BDACS Launches KRW1, Korea’s First Won Stablecoin on Avalanche

BDACS Launches KRW1 with Woori Bank, Boosting Avalanche and Korea DeFi

South Korea has taken a big step in digital finance as BDACS launches KRW1, the country’s first stablecoin backed by the Korean won. 

Source: X (formerly Twitter) 

The token runs on the Avalanche blockchain and is fully supported by deposits kept in Woori Bank. 

This launch came after a successful proof of concept that showed the technology works and is secure.

Building a New Financial Framework

KRW1 is more than just a new digital token. BDACS has developed a whole system around it, with safe issuance tools, management tools, and a mobile application. 

• The application will enable individuals to send KRW1 peer-to-peer and verify transactions hassle-free. 

• Every token is backed 1:1 with Korean won in escrow, so users can rely on the reserves behind it.

Woori Bank plays the central role here. According to Justin Kim, Head of Asia at Ava Labs By directly interacting with BDACS, the bank introduces trust and real-world backing to the stablecoin space. 

This shows how traditional banks can play an even bigger role in blockchain innovation.

Avalanche Chosen as Fundamental Blockchain Partner

BDACS decided to launch KRW1 on Avalanche because of its high speed, low cost, and proven security. 

Avalanche was also praised by the Korea Internet & Security Agency for its stability in public projects, Avalanche’s technology makes it a good fit for a regulated stablecoin like this.

For Avalanche, this launch is a big win too. It adds a strong Asian use case to the network and strengthens its role in the global market. The timing also matched with a strong AVAX price surge, which saw gains of about 10% in just 24 hours currently trading at $32.81 as per the coinmarketcap.

Source: CoinMarketCap

Market Reaction and Trading Outlook

Crypto traders moved fast as: 

• AVAX broke above the key resistance level of $31.05, showing strong buying interest. 

• Trading volume rose nearly 43% to $1.55 billion, proving demand is high. 

• With support holding at $29.65, the market looks bullish. 

• Even though the RSI near 74 suggests the price may be a bit overheated.

Momentum around Avalanche is growing, because of ETF filings and new institutional interest. 

If AVAX can maintain above $31, it may target $34–$35 in the near future. In the grand scheme, BDACS deploys KRW1 at the right moment, pumping new liquidity and bringing new prospects to Korea's DeFi market.

Greater usage of KRW1 will encourage new trading pairs, faster remittances, and lower cost payments. It can also be used in government projects such as relief payment of emergencies, and money transfer is made faster and cheaper for the citizens.

A Step Toward Korea's Digital Asset Future

BDACS is shooting for something bigger than custody services. By trademarking KRW1 back in 2023 and making early investments in infrastructure, the firm proved serious about being a first mover. 

CEO Harry Ryoo stated BDACS is developing the backbone of Korea's digital economy and hopes it will be an everyday stablecoin.

The firm intends to grow through partnerships, licensing agreements, and co-creating with local and international companies. 

As Korea is set to launch its Digital Asset Basic Act, this stablecoin could even become the benchmark for regulated stablecoins in Korea.

Conclusion

KRW1 is a breakthrough for Korea's financial market. Blending banking trust, the speed of blockchain, and increasing investor demand, BDACS launches KRW1 as both a safe asset and a growth engine. 

If acceptance continues to grow, KRW1 can transform the way Koreans use digital money to make payments, trade, and receive public services.