TL;DR
- Injective signed an agreement with BDACS to integrate KRW1, a South Korean won-pegged stablecoin, into its RWA ecosystem.
- The integration will enable tokenized assets to be traded and settled directly in Korean won, without relying on dollar-pegged stablecoins.
- KRW1 minting and redemption will be restricted to approved institutions and remain subject to regulatory approval in South Korea.
Injective signed a memorandum of understanding with BDACS to integrate KRW1, a South Korean won-pegged stablecoin, into its tokenized asset ecosystem. The agreement establishes KRW1 as the exclusive won-denominated settlement asset for real-world asset (RWA) transactions on the network.
The integration will enable tokenized assets to be traded and settled directly in South Korean won, without first converting funds into dollar-backed stablecoins.
However, KRW1 minting and redemption will be restricted to approved institutional partners and remain subject to approval by South Korean regulators.
Injective Seeks to Bring the Korean Won to Tokenized Asset Markets
South Korea is working on the Digital Asset Basic Act, proposed legislation that would establish rules for won-denominated stablecoins.
The bill is in its final stages of government consultation and is expected to reach parliamentary discussions next month.
🔥BREAKING: The Korean won is being tokenized on Injective.
Injective is bringing one of the world’s largest currencies onchain for our rapidly growing RWA ecosystem.@BDACSKorea is issuing KRW1, Korea’s first won backed stablecoin, with reserves held at a major Korean bank. pic.twitter.com/xbH870x8jB
— Injective 🥷 (@injective) October 20, 2026
Currently, more than 98% of the stablecoin market’s capitalization comes from assets pegged to the US dollar.
According to figures cited by the companies, South Korea’s five largest crypto exchanges recorded 18 consecutive months of net stablecoin outflows, totaling approximately $10.4 billion to overseas platforms.
Harry Ryoo, CEO of BDACS, explained that the company intends to use KRW1 to facilitate settlements of tokenized assets in local currency as regulations develop.
Expanding Institutional Infrastructure
BDACS is a registered virtual asset service provider in South Korea, specializing in custody and infrastructure for institutional clients.
During the first half of 2026, the company reported holding more than 80 billion won in assets under custody.
Meanwhile, Injective had already been selected by POSCO International and LG CNS to manage the issuance, transfer, and settlement of trade receivables linked to international commerce.
According to the network, Injective has processed more than $7.5 billion in real-world asset transactions, while the value of tokenized assets issued on its infrastructure exceeds $1 billion.
The KRW1 integration will begin rolling out as South Korean institutions bring assets onto the network and the various use cases receive regulatory approval.
