Injective partners with South Korea’s BDACS to introduce KRW1 stablecoin into RWA market settlements.
53 minutes ago
Injective has signed a memorandum of understanding (MOU) with South Korean digital asset custodian BDACS, with plans to integrate the South Korean won stablecoin KRW1 into Injective’s tokenized asset market and designate it as the exclusive KRW settlement asset for real-world assets (RWA) on the platform. This will allow institutions to directly trade and settle tokenized assets using KRW, reducing reliance on U.S. dollar stablecoins. BDACS noted that KRW1 is fully backed by KRW reserves, with minting and redemption initially limited to approved institutional partners; specific implementation remains subject to regulatory approval. The collaboration comes as South Korea advances its regulatory framework for won stablecoins, with the government targeting completion of legislation related to the Digital Asset Basic Act by the end of 2026. Separately, industry data shows that as of June this year, South Korea’s five largest crypto exchanges have recorded net stablecoin outflows for 18 consecutive months. The global stablecoin market remains dominated by U.S. dollar stablecoins, which account for over 99% of total supply.
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