Injective, BDACS plan Korean won stablecoin settlement for tokenized assets
Summary
Injective and South Korean custodian BDACS signed an MoU to use BDACS’s won-backed KRW1 stablecoin as the exclusive Korean-won settlement asset for tokenized real-world assets on Injective. The arrangement could let institutions trade and settle directly in won rather than dollar-backed stablecoins. KRW1 is backed by won reserves, with minting and redemption initially restricted to approved institutional partners and subject to regulatory approval. South Korea is developing stablecoin rules through its proposed Digital Asset Basic Act, targeted for completion by the end of 2026, while debate continues over who may issue won-backed tokens.
