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BDACS has unveiled KRW1, a stablecoin entirely backed by the South Korean won and integrated with the banking framework of Woori Bank.
BDACS, a provider of digital asset custody services, has launched KRW1 as the inaugural stablecoin fully secured by the South Korean won, delivering a robust infrastructure for issuance, storage, and circulation. Each token is supported by funds maintained in escrow accounts at Woori Bank. Real-time API-based reserve verification promotes transparency, enhances user confidence, and aligns with future regulatory standards.
The token was first issued on the Avalanche blockchain, which has been recognized by the Korea Internet & Security Agency (KISA) as dependable and secure for public sector applications. Justin Kim, Head of Asia at Ava Labs, stated that the pilot initiative highlighted the need for high-performance and regulated blockchain infrastructure for the effective deployment of national stablecoins.
BDACS intends to utilize KRW1 not just for transfers and payments but also for investments, deposits, and government initiatives. Notably, discussions are ongoing regarding the incorporation of the stablecoin into emergency financial assistance frameworks, which would facilitate lower fees and quicker settlements. The company is actively establishing a network of financial and technological partners and anticipates that KRW1 will set a technical benchmark for stablecoins under South Korea’s upcoming digital asset legislation.
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“We are constructing the foundation of the digital asset market, catering to corporate, institutional, and public-sector partners,” remarked BDACS CEO Harry Ryoo. “KRW1 signifies a pivotal moment for our organization, and we are confident it will serve as a fundamental asset for the digital economy.”
Looking forward, BDACS is exploring the possibility of linking KRW1 with dollar-pegged stablecoins to enhance global liquidity, as well as partnering with other banks and international blockchain networks.
Max Krupyshev, CEO of CoinsPaid, emphasized the benefits of stablecoins in international commerce during his 2025 speech to the American Chamber of Commerce in Estonia: “Leading FinTech companies are already providing clients with the capability to buy, store, and sell digital assets. The demand is fueled not only by individual users but also by businesses that require swift, cost-effective, and secure fund transfers across countries and continents,” stated Max.
In June 2025, the South Korean government initiated a comprehensive reform of the crypto sector, which includes plans for the introduction of spot crypto ETFs and regulatory frameworks for stablecoins.
Сообщение First South Korea’s Stablecoin Based on National Currency Launched появились сначала на CoinsPaid Media.
