The first Korean Won-backed stablecoin has been launched! BDACS (Busan Digital Asset Custody Services) has become the first South Korean custodian to launch the stablecoin on the Avalanche blockchain. Woori Bank has backed the newly launched stablecoin, dubbed KRW1. According to BDACS’s press release dated 18 September 2025, Korean Won deposits back the KRW1 stablecoin 1:1. Per the press release, BDACS confirmed that it completed a full proof of concept for the KRW1 stablecoin, validating its technical v ...