Virtual asset custody corporations BDACS said on the 18th that it has officially issued the won stablecoin KRW1, successfully completing proof of concept (PoC) for won-based stablecoin technology. BDACS, as a partner of Woori Bank, said it demonstrated technical stability in every step of the process with Woori Bank, from depositing won margin to issuance and on-chain verification.
KRW1 is BDACS's proprietary won stablecoin brand, for which it completed trademark registration in December 2023. From its early days, BDACS anticipated that stablecoins would take root as core infrastructure in the digital asset market and has proactively pursued related technology development and planning.
BDACS went beyond simple stablecoin issuance, developing not only an issuance management system but also an application that enables user-to-user transfers and verification to replicate a real distribution environment. The margin structure is also based on a 100% won collateralization rate, and the margin is deposited in an account at strategic partner Woori Bank.
Through API integration, the status of collateral funds is checked and verified in real time, serving as an important mechanism to enhance the credibility of stablecoin issuance. Woori Bank also confirmed through this technology verification that banks play a key role in the stablecoin ecosystem.
KRW1 was first issued on the Avalanche blockchain network, a major global partner of BDACS. Avalanche is a global blockchain infrastructure whose technical excellence has been certified by the Korea Internet & Security Agency (KISA). BDACS plans to develop KRW1 into a general-purpose stablecoin that can be used across finance—including remittances, payments, investment, and deposits—rather than limiting it to specific corporations or a payment ecosystem.