South Korean digital asset custodian BDACS has selected the LayerZero OFT standard to enable cross-chain functionality for the South Korean won stablecoin KRW1.

According to official announcements, South Korean digital asset custodian BDACS has selected LayerZero’s OFT (Omnichain Fungible Token) standard as the cross-chain interoperability solution for its South Korean won stablecoin KRW1. KRW1 is South Korea’s first won-backed stablecoin, currently deployed on Ethereum, Avalanche, and Circle’s Arc network. With the OFT integration, KRW1 will achieve further native multi-chain expansion. LayerZero noted that the OFT standard currently covers over 170 blockchains, handles approximately 87% of cross-chain transfer volume, and has a cumulative transfer value of $280 billion. Adopting this standard, KRW1 will be burned or deducted on the source chain and minted on the destination chain during cross-chain transfers, maintaining a unified supply to prevent fragmented KRW1 liquidity across different chains. LayerZero’s cross-chain transfer application Stargate will execute these transfers. BDACS said the move will provide a technical foundation for KRW1 to expand beyond South Korea. In July 2026, South Korea released the "Won Internationalization Roadmap," which proposes amending the Foreign Exchange Transactions Act to establish a legal framework for won-denominated stablecoins, plus advancing measures like offshore won accounts and a 24-hour offshore won settlement network. BDACS added that KRW1 is currently fully backed by a 1:1 reserve of won held at Woori Bank and undergoes independent reserve attestation.