Key Takeaways
- BDACS has launched KRW1, the primary Korean won-backed stablecoin on the Avalanche blockchain.
- KRW1 is absolutely backed by Korean received reserves held at Woori Financial institution.
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South Korea’s BDACS launched KRW1, the primary Korean won-backed stablecoin on the Avalanche blockchain. The digital asset is absolutely collateralized with Korean received held at Woori Financial institution.
The launch follows profitable proof of idea validation, marking one of many first stablecoins pegged to South Korea’s nationwide foreign money to function on a significant blockchain community.
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