KRW1 Stablecoin Issued by BDACS, Backed by Woori Bank on Avalanche, Could Support Korea’s Digital Finance

• Fully collateralized: Each KRW1 token is backed 1:1 by won deposits held in escrow at Woori Bank.

• On Avalanche: KRW1 uses Avalanche for performance, scalability and real‑time reserve verification.

• Regulatory alignment: BDACS positions KRW1 to comply with Korea’s upcoming Digital Asset Basic Act for institutional and public use.

KRW1 stablecoin: BDACS issues KRW1 backed by Woori Bank deposits on Avalanche; verify reserves in real time. Explore how KRW1 could reshape Korea’s digital finance landscape.

BDACS launches KRW1 stablecoin backed by Woori Bank deposits, issued on Avalanche, aiming to transform Korea’s digital finance ecosystem.

• BDACS launches KRW1, the first South Korean won‑backed stablecoin, fully collateralized with deposits held in escrow accounts at Woori Bank.
• The KRW1 stablecoin operates on the Avalanche blockchain, integrating issuance, management, and real‑time proof of reserves for transparent operations.
• BDACS positions KRW1 for payments, remittances, investments, and public‑sector applications, aligning with Korea’s upcoming Digital Asset Basic Act regulations.

Avalanche is now driving a new chapter in South Korea’s digital economy as BDACS, in partnership with Woori Bank, launches KRW1, a fully collateralized won‑backed stablecoin. The pilot follows a completed proof of concept, signaling progress toward bank‑integrated digital money.

What is the KRW1 stablecoin?

KRW1 stablecoin is a fiat‑backed digital token issued by BDACS and collateralized with South Korean won deposits placed in escrow at Woori Bank. The token is issued on the Avalanche blockchain and includes real‑time proof‑of‑reserves to ensure transparency and institutional trust.

How does KRW1 ensure reserves and transparency?

BDACS integrates Woori Bank escrow balances with Avalanche on‑chain issuance and a public verification API. Users and institutions can check live reserve totals via the BDACS dashboard, and the system produces timestamped records for audits and reconciliations.

Why did BDACS choose Avalanche?

Avalanche offers low finality, high throughput and modularity suitable for institutional rails. Recognized by national cybersecurity authorities for enterprise readiness, Avalanche supports BDACS’s aims for fast settlements, real‑time verifications, and scalable token issuance.

Frequently Asked Questions

Is KRW1 fully collateralized 1:1 with Korean won?

Yes. Each KRW1 token is backed 1:1 by deposits held in escrow accounts at Woori Bank, with BDACS publishing real‑time reserve data to maintain the peg and support audits.

Can retail users access KRW1 for payments?

BDACS has developed a user application for peer‑to‑peer transfers and transaction verification, enabling both retail and corporate use while preserving compliance and custody controls.

How will KRW1 interact with Korean regulation?

BDACS intends KRW1 to align with Korea’s forthcoming Digital Asset Basic Act, designing issuance and custody practices to meet anticipated regulatory standards for stablecoins.

Key Takeaways

• Bank‑backed stability: KRW1 is collateralized by Woori Bank escrow deposits, reducing counterparty risk.
• Transparent operations: Real‑time proof of reserves and on‑chain issuance enable auditability.
• Multi‑use potential: KRW1 targets payments, remittances, institutional deposits and public‑sector disbursements.

Conclusion

BDACS’s KRW1 stablecoin represents a practical step toward regulated, bank‑integrated digital money in South Korea. By combining Woori Bank custody, Avalanche issuance, and real‑time proof‑of‑reserves, KRW1 aims to provide a transparent infrastructure for payments and public‑sector use. Track developments and official BDACS updates for implementation milestones and regulatory alignment.