South Korea’s first won-pegged stablecoin KRW1 goes live on Avalanche

South Korea’s first won-pegged stablecoin KRW1 goes live on Avalanche. [https://invezz.com/wp-content/uploads/2025/09/20250918_091326_J1Ckf.png] South Korea’s first won-pegged stablecoin, dubbed KRW1, has gone live on the Avalanche blockchain. BDACS, a Seoul-based digital asset firm that developed the stablecoin, said in a September 17 announcement that each KRW1 token is fully backed by Korean won reserves held in escrow at Woori Bank, one of the country’s leading financial institutions. Before this, BDACS had successfully completed a proof-of-concept pilot for KRW1 earlier this year. KRW1 is pegged 1:1 with the Korean won, and BDACS has implemented a real-time API connection to Woori Bank to provide verifiable proof-of-reserves. This infrastructure allows users to independently verify the fiat backing behind every stablecoin in circulation. Initially, KRW1 will only be available on Avalanche, which, according to the issuer, was chosen for its security and performance benefits, while noting that cross-chain expansions are already being planned. BDACS will also develop an ecosystem around KRW1, which will include various components like peer-to-peer transaction enabling tools, transaction verification systems, and means to extend support for the stablecoin across more financial applications.…