/Ratio

Introducing Ratio: Stablecoin Orchestration Layer for Asia's $6T+ cross-border payments market. We're eliminating friction in regional value movement with compliant, instant FX execution delivering enterprise-grade settlement at a fraction of legacy costs. 🧵👇

Many Asian markets are rolling out their own local stablecoins. Hong Kong is one of the leaders of global stablecoin and blockchain technology adoption. The city has always inspired me with its talent and the projects that emerge from here 🇭🇰 I recently caught up with my friend Larry Lin @ImSmolpotato, Global Partnerships Lead at Kaia Chain. He told me about his journey at Kaia Labs the new project he is actively building with his team - @RatioFX ✨ Ratio is building the on-chain FX layer for Asia’s stablecoin ecosystem connecting capital and liquidity across the region while keeping costs low, staying compliant, and operating at real-world scale. 🎙️ Full conversation below: (0:33) Kaia's origin story: merger of Klaytn and Finschia backed by Kakao and LINE, challenges of merging two blockchains and corporate cultures (1:53) Kaia's 2026 strategy: shifting focus to stablecoins and onchain finance (2:51) How Kaia's LINE dApp portal differs from Telegram Initial dApp portal focus: gaming and consumer apps for Web2 users (5:02) Balancing APAC dominance vs. Western expansion (7:43) RWA tokenization as a key 2026 narrative and Kaia's Project Pegasus (8:32) Meet Ratio: on-chain FX stablecoin orchestration layer for Asia (11:10) The problem Ratio solves and how it delivers Web2-level exchange rates onchain (14:27) Ratio's B2B model and regulated/compliant institutional approach (17:10) Ratio + Kaya: no separate L1 planned and why

Big move in bridging crypto & tradfi: Mastercard acquiring BVNK to link on-chain payments directly with its global network. This unlocks faster cross-border transfers, remittances, and B2B transactions using stablecoins.

Korea is quickly becoming one of the most important proving grounds for stablecoin adoption in Asia. The next phase is orchestrating liquidity, FX, and settlement across the region and Ratio is building the rails to onboard APAC.

BEYOND THE DOLLAR: HOW /RATIO IS POWERING ASIA'S LOCAL STABLECOIN REVOLUTION While US dollar-pegged assets currently account for roughly 99% of the global stablecoin market, a profound structural shift is unfolding across Asia. Driven by the rapid growth of inter-Asian commerce and the rollout of landmark regional regulatory frameworks in 2026, local Asian stablecoins - such as JPYC, IDRX, IDRP, MYRC and others - are positioned to capture significant institutional liquidity and market share. The reliance on USD denominated stablecoins for Asian cross-border settlement introduces hidden operational inefficiencies. Routing local fiat through USD stablecoins often incurs costly premiums, substantial on/off-ramp fees, and volatile exchange spreads. Furthermore, as emerging market governments increasingly seek to protect their monetary sovereignty against "digital dollarisation," the demand for compliant, locally denominated digital assets is accelerating at a rapid pace. Enter @RatioFX. We are building the definitive stablecoin FX execution and orchestration layer for Asia's regulated digital economy. Anticipating this massive influx of local liquidity, Ratio is purpose-built to unify the region's highly fragmented financial landscape. Instead of relying on inefficient, USD bottlenecked AMM routing, Ratio operates as a compliance-first Regulated Middleware. Our proprietary FX Engine and Single-Sided Liquidity Hub facilitate direct, zero-slippage swaps between regional stablecoins. By anchoring execution to real-world institutional mid-market benchmark rates rather than volatile crypto curves, we are structurally reducing cross-border FX costs by up to 70% for our enterprise partners. As the Asia-Pacific region transitions toward a multi-currency, locally denominated digital ecosystem, Ratio provides the institutional-grade settlement layer that makes FX execution / moving money instant, compliant, and fundamentally more efficient. /ratio everything

The "Asian Tigers" are waking up, onchain. Intra-Asian commerce is surging, driven by migration flows. But current rails – both legacy and onchain – suffer from inefficiencies. At @consensus_hk, Kaia CSO & @RatioFX Founder, @Iam_JohnCho, explained how we fix the spread. 👇

Hana Card launches USDC payments for tourists in Korea w/ @circle & @cryptocom 5% CRO cashback on prepaid Visa spends. Stablecoin use surging in Korea ahead of full legal framework koreaherald.com/article/106878…

RWA and crypto payment in Indonesia 🇮🇩 will run on: • liquidity • on/off ramps • institutional readiness • consumer distribution my picks: @base @solana @0xPolygon @KaiaChain change my mind.

See y’all in Amsterdam 🛫

This trend will only grow as local stablecoins integrate with legacy infrastructure via services like @RatioFX - i.e. banking services and capital markets will move on-chain. Long term, a renewed demand for local currencies will fuel inter-Asian economic collaborations.

APAC's stablecoin wave continues into the new year. Last week @StartaleGroup unveiled JPYSC, its yen-backed stablecoin targeting Q2 launch, as Japan advances crypto regs.

@reapglobal @KaiaChain @tether @awscloud @liminalcustody to more events in the future 🤝

Good food, great night, even better convos! 🌃🎋 Thanks to everyone who joined us :) @RatioFX, @KaiaChain, @tether, @awscloud & @liminalcustody

We hosted our first Stablecoin VIP Dinner and one thing is certain: 2026 belongs to Asia. PSPs, banks, VCs, and founders all in one room and the conversation kept coming back to the same thing: the regulatory tide across Asia is turning, and it's turning fast. New stablecoin frameworks are unlocking what institutions have been waiting for. The infrastructure moment is here. More dinners. More cities. More of Asia coming online. Thanks for cohosting with us @KaiaChain @tether @awscloud @liminalcustody @reapglobal Going Cloud See you at the next one.

"2026 will be a massive liquidity event in Asia." Regulatory frameworks across the region are aligning. At @consensus_hk, Kaia CSO & @RatioFX Founder @Iam_JohnCho outlined the "cascade of regulations" that will enable major Asian superpowers to enter the stablecoin market.

Hong Kong is about to issue its first stablecoin licenses in March 2026 Just announced in today’s budget speech the HKMA will green-light the initial batch of fiat-referenced issuers after reviewing 36+ applications. For APAC this is massive: • Institutional-grade issuance hub in the heart of Asia • Clear runway for Chinese fintechs & global players • Tokenization + cross-border payments about to accelerate At Ratio, we built the on-chain FX layer exactly for this moment. theblock.co/post/391172/ho…

As Asia moves toward clearer stablecoin regulation and non-USD rails gain momentum, we had meaningful conversations over a night of padel. This is what Stablecoin Social Club is about: operators connecting beyond panels. Huge thank you to @KaiaChain and @reapglobal for co-hosting. More to come.

See you all in Amsterdam! Thanks @thestablecon for the invite!

As more Asian countries roll out clearer stablecoin regulations, 2026 is shaping up to be a breakout year for non-USD denominated stablecoins. Thanks to @CoinDesk for having @Iam_JohnCho live today.

Beyond the Dollar: The Rise of the Non-USD Stablecoins @Iam_JohnCho live now on the @consensus_hk Exploration Stage.

📍 Wednesday 2/11 · 7:30 PM Stablecoin VIP Dinner (Invite only) Co-hosted with @KaiaChain @tether @awscloud @liminalcustody @reapglobal Going CLoud 🔗 luma.com/umebf4wg

📍 Wednesday 2/11 · 1:20 PM @consensus_hk Panel Beyond the Dollar: The Rise of Non-USD Stablecoins @Iam_JohnCho on stage with @stablecoinjohn Head of Stablecoins @ @coinbase).

After our padel warm-up 🎾, we’re ready to take on @consensus_hk Catch us around the city this week 👇