‍South Korea Launches USDT ATMs for Tourists

South Korea has introduced new crypto-enabled kiosks allowing foreign visitors to convert stablecoins, specifically Kaia-issued USDT, into cash. This pilot program, operated by DaWinKS and the Kaia DLT Foundation, aims to integrate digital assets into everyday transactions.

The ATMs are located in tourist areas and can dispense fiat currency in 85 currencies or load local transit cards. While currently limited to verified international users, the initiative is seen as a crucial step in bridging the gap between the digital asset economy and real-world activities. Challenges include navigating Know Your Customer (KYC) regulations, a significant bottleneck for offline Web3 services.

This development occurs amidst ongoing legislative debates in South Korea concerning stablecoin regulation, including reserve requirements and issuer licensing, reflecting a "sandbox model" approach to testing crypto infrastructure ahead of potential policy changes.

https://cryptovka.ru/en/news/3271/south-korea-unlocks-crypto-to-cash-for-tourists-with-new-usdt-atms