Key Takeaways
- BDACS has launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain.
- KRW1 is fully backed by Korean won reserves held at Woori Bank.
South Korea’s BDACS launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. The digital asset is fully collateralized with Korean won held at Woori Bank.
The launch follows successful proof of concept validation, marking one of the first stablecoins pegged to South Korea’s national currency to operate on a major blockchain network.
Source: https://cryptobriefing.com/bdacs-krw1-stablecoin-avalanche-launch/