Netstars and Kaia partner to expand stablecoin payments in Asia

Netstars, a Japanese fintech company, has signed a Memorandum of Understanding (MOU) with the Kaia DLT Foundation to expand the use of stablecoin payments across Asia. The collaboration aims to integrate stablecoins issued on the Kaia blockchain with Netstars’ payment services, including ‘StarPay’ and ‘Stablecoin Pay’.

A primary focus of the partnership is to facilitate seamless payments for inbound tourists. The proposed system would allow foreign visitors to pay using stablecoins pegged to their local currencies—such as the South Korean won, Hong Kong dollar, Taiwan dollar, or various Southeast Asian currencies—while Japanese merchants receive the funds in Japanese yen. This structure is designed to allow merchants to accept new payment methods without the need to directly hold or manage volatile crypto assets.

The two entities will also explore technical cooperation regarding liquidity, exchange mechanisms, and settlement processes, potentially utilizing ‘Ratio’, an on-chain foreign exchange orchestration layer within the Kaia ecosystem. Netstars currently manages a network of approximately 700,000 merchant locations with an annual transaction volume exceeding 2 trillion yen.