Layer 1 blockchain Kaia is one of this week’s high-performing altcoins, after its chairman introduced the upcoming itemizing of a Korean Obtained stablecoin on the community.
The news comes factual one month after Kaia launched USDT on its chain. The community’s KAIA token is up over 40% since the X submit on June 8.
Sangmin Web optimization, the chairman of the Kaia Foundation, posted, “Appropriate as we onboarded native USDT on @KaiaChain, we can compose our most racy to enable the issuance of a Korean Obtained (KRW) stablecoin on @KaiaChain as neatly. Kaia’s Stablecoin Summer is factual beginning.”
The rally pushes KAIA’s market capitalization to $950 million, its perfect valuation since February. Nonetheless, the token remains very much below its all-time high of $0.39, spot in December 2024.
No matter USDT’s tall presence in Asian markets, largely because of this of Tron, the switch indicates quiz for blockchain integration with native currencies, such because the Obtained, in location of factual USD-denominated stablecoins.
Kaia, which launched its token in October 2024, is an Asia-focused EVM-compatible Layer 1 blockchain. It modified into as soon as created in 2024 thru the merger of Klaytn (developed by Kakao in South Korea) and Finschia (developed by LINE in Japan). The community nowadays raised an undisclosed quantity in a funding round led by 1kx and Blockchain Capital, with participation from funds comparable to Galaxy Digital.
