Injective partners with BDACS to launch won-pegged stablecoin KRW1
Injective has teamed up with custodial infrastructure firm BDACS to introduce KRW1, a won-pegged stablecoin intended for tokenized real-world asset markets and onchain settlement.
Blockchain network Injective has partnered with custodial infrastructure provider BDACS to bring KRW1, South Korea's first won-backed stablecoin, into its real-world asset (RWA) ecosystem, according to reports by The Block, Crypto Briefing, and Coin Telegraph.[1][2][3][4][5][6]
The KRW1 token is designed to be fully collateralized 1:1 with cash stored in domestic commercial banking vaults. It is aimed at tokenized asset markets and onchain settlement on Injective as South Korean authorities work to establish a formal regulatory framework for local-currency stablecoins.[1][2][3][4][6]
According to BSCN, the initiative aims to address capital outflows, noting that South Korean traders pulled roughly $10.4 billion in stablecoins from domestic exchanges such as Upbit to offshore venues over an 18-month span. The deployment expands on existing enterprise activity on Injective, where corporate firms including POSCO International and LG CNS clear trade receivables.[1]
Key facts
- Injective partnered with custodial infrastructure company BDACS to launch the Korean won-backed stablecoin KRW1.
- KRW1 is described as South Korea's first stablecoin, collateralized 1:1 with cash deposited in domestic commercial bank vaults.
- The stablecoin is planned for use in tokenized real-world asset markets and onchain settlement.
- South Korea is currently developing a regulatory framework for Korean won-denominated stablecoins.
- Korean traders withdrew roughly $10.4 billion in stablecoins from domestic exchanges like Upbit to offshore platforms over 18 consecutive months.
- Enterprise companies POSCO International and LG CNS currently clear trade receivables on Injective.
Sources · 6 sources
- BS
BSCN@BSCNewsPost on X ·
The Korean Won is coming to Injective Blockchain @Injective is partnering with custodial infrastructure company @BDACSKorea to roll out $KRW1, Korea's first stablecoin, fully collateralized 1:1 in cash from domestic commercial banking vaults. The monetary intervention aims to address ongoing capital flight, with Korean traders withdrawing about $10.4B in stablecoins over 18 continuous months from domestic exchanges such as Upbit to offshore platforms. This latest stablecoin intervention builds on existing corporate enterprise pipelines in Injective, including POSCO International and LG CNS clearing their trade receivables.
Open source - TB
The BlockArticle ·
Injective partners with BDACS to bring Korean won stablecoin to RWA ecosystem The move comes amid South Korea's regulatory developments to establish a framework for Korean won-denominated stablecoins.
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
🇰🇷 NEW: Injective partners with BDACS to bring Korea's first won-backed stablecoin, KRW1, to tokenized RWA markets and onchain settlement. https://t.co/PA30GxvaMc
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Injective partners with BDACS to roll out South Korea's first stablecoin The won-backed $KRW1 will be backed 1:1 by cash held at domestic commercial banks. https://t.co/BgdZ0yWVlG
Open source - CB
Crypto BriefingArticle ·
Injective partners with BDACS to bring KRW1 stablecoin to its RWA ecosystem The partnership could enhance cross-border transactions and diversify currency options in blockchain ecosystems, potentially boosting global adoption. The post Injective partners with BDACS to bring KRW1 stablecoin to its RWA ecosystem appeared first on Crypto Briefing .
Open source - CT
Coin TelegraphArticle ·
Injective, BDACS plan Korean won stablecoin settlement for tokenized assets Injective and BDACS plan to bring won-backed stablecoin KRW1 to tokenized asset markets as South Korea develops a regulatory framework for local currency stablecoins.
Open source