BDACS, Woori Bank Launch South Korea’s First Won-Backed Stablecoin on Avalanche

BDACS, Woori Bank Launch South Korea’s First Won-Backed Stablecoin on Avalanche

Asia’s stablecoin race is hotting up as South Korea joins the fray with its first fully regulated won–backed stablecoin.

Avalanche powers South Korea’s first Won-backed stablecoin – Details

With KRW1’s debut, Korea joins the global stablecoin race - Will it be able to challenge the U.S stablecoin market?

Won-Pegged Stablecoin: Bidaex Unveils Revolutionary KRW1 For South Korea

BitcoinWorld Won-Pegged Stablecoin: Bidaex Unveils Revolutionary KRW1 for South Korea Exciting news is emerging from the world of digital finance in South Korea! Cryptocurrency custody firm Bidaex has officially launched KRW1, a pioneering won-pegged stablecoin. This development marks a significant step towards bridging traditional finance with the innovative realm of blockchain technology, promising a new era of stability and efficiency for tra…

KRW1 Stablecoin Goes Live on Avalanche as BDACS Partners with Woori Bank - Blockonomi

TLDR: BDACS introduced KRW1, the first Korean won-backed stablecoin, fully collateralized with fiat deposits at Woori Bank. Avalanche was selected as the launch blockchain for its speed, scalability, and security cited by Korea’s KISA agency. KRW1’s launch follows a completed proof of concept involving fiat integration, issuance systems, and user-facing applications. BDACS plans to expand KRW1 use for payments, remittances, and public-sector sy…

Won-pegged stablecoin KRW1 launches in South Korea on Avalanche

Stablecoin development in South Korea has advanced with the launch of KRW1, a won-pegged token issued on the Avalanche blockchain. Seoul-based digital asset firm BDACS announced the launch of KRW1 on September 17, a stablecoin fully backed by South Korean…

South Korea Launches First Won-Backed Stablecoin on Avalanche

South Korea’s BDACS has rolled out KRW1, the nation’s first Korean won-backed stablecoin, built on the Avalanche blockchain. Fully collateralized with won