BDACS KRW1 (KRW1) Pre-launch Stablecoin Tracker
KRW1
Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Full launch status and history
Pilot phase following successful September 2025 proof of concept; not yet in public circulation. BDACS is South Korea's regulated digital-asset custodian; Woori Bank holds the won reserves and participated directly in the PoC. Initial deployment on Avalanche (cited by KISA for reliability in public-sector use); KRW1 expanded to Polygon in December 2025 for broader payments, remittances, and enterprise reach. October 2025 MoU with Circle positions KRW1 for deployment on Arc (Circle's new Layer 1), where it joins national stablecoin issuers from Japan, Brazil, Mexico, and the Philippines. February 2026 Plume partnership positions KRW1 as Korean institutional settlement rail for tokenized RWA. May 2026 Aptos Foundation partnership brings KRW1 to its first non-EVM chain, leveraging Aptos's payment infrastructure for cross-border remittances and RWA tokenisation. A February 2026 MoU with Com2uS Holdings targets KRW1-based payment infrastructure on the XPLA/CONX chain. KRW1 is live on Aptos with 30M tokens per rwa.xyz, which reported 141.8M KRW1 (about $97K) across Polygon, Aptos, Plume, Ethereum, and BNB Chain with 33 holders on September 13 2026. On September 7 2026 BDACS adopted LayerZero's OFT standard to unify that supply across chains, and on September 8 agreed card-payment rails with XBITU. Korea's Digital Asset Basic Act (the gate for commercial launch) was excluded from the National Assembly's pre-recess agenda on May 12 2026; as of September 3 2026 the unified government bill had still not been introduced, with a first public hearing planned for the end of September. Commercial launch remains contingent on that framework.
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- Korean Won
- Jurisdiction
- South Korea (FSC / FSS (Digital Asset Basic Act pending))
Launch Timeline
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/subscribe launch krw1-bdacsActivity Timeline
BDACS and XBITU agree to build KRW1 card-payment rails
Singapore-based XBITU is to enable KRW1 spending at Visa and Mastercard merchants and through Apple Pay and Google Pay via automatic conversion, starting with a domestic beta. No launch date was given.
SourceBDACS adopts LayerZero's OFT standard to run KRW1 as a single omnichain supply
LayerZero says KRW1 will use the Omnichain Fungible Token standard for one unified supply across connected chains, with Stargate executing transfers. The post lists KRW1 as live on Ethereum, Avalanche, and Circle's Arc.
SourceUnified Digital Asset Basic Act bill still not introduced; first public hearing set for late September
National Policy Committee chair Yoo Dong-soo says the FSC's government bill has not yet arrived, ten private-member bills remain pending, and the bank 50%-plus-one consortium rule is unresolved. The Democratic Party plans a first public hearing at the end of September 2026.
SourceKorea's finance ministry targets Digital Asset Basic Act passage in the second half of 2026
The Ministry of Economy and Finance set a target of passing the Digital Asset Basic Act in H2 2026, the framework that would authorise won-pegged stablecoin issuers and gate KRW1's commercial launch. The Bank of Korea and the Financial Services Commission remain split over whether issuance should be restricted to bank-majority entities.
SourceBDACS publishes institutional KRW1 whitepaper
Institutional whitepaper published on the BDACS newsroom; krw1.kr now describes commercialization of issuance and circulation for select KYC/AML-vetted institutions, while aggregator-tracked supply remains proof-of-concept scale pending Korea's Digital Asset Basic Act (bills introduced July 28 2026).
SourceBDACS and Aptos Foundation partner to bring KRW1 to Aptos
First deployment of KRW1 outside EVM-compatible chains; aims to accelerate practical stablecoin use cases across domestic and global markets via Aptos's low-fee payment infrastructure for remittances and real-world asset tokenisation.
SourceKorea Digital Asset Basic Act excluded from National Assembly pre-recess agenda; H2 2026 earliest for resumed debate
SourceBDACS and Com2uS Holdings sign MoU to build KRW1 payment infrastructure on XPLA/CONX
SourceBDACS partners with Plume to position KRW1 as Korean institutional RWA settlement rail
Plume integration lets Korean institutional investors allocate into tokenized RWA instruments denominated in KRW1 without USD conversion; ~$645M of tokenized assets currently on Plume.
SourceKRW1 deploys on BNB Chain
Multi-chain expansion to BNB Chain; on-chain BEP-20 contract live (0x8c2f2784cbab626846a53d20d8104ff42b3594c2).
SourceKRW1 launches on Polygon network
Multi-chain expansion following the Avalanche PoC; Polygon selected for high throughput, low fees, and integrations with Stripe, Circle, and Mastercard, enabling payments, remittances, and enterprise use cases.
SourceBDACS signs MoU with Circle to bring KRW1 to Arc blockchain
BDACS and Circle formalize collaboration to deploy KRW1 on Arc, Circle's new Layer 1 blockchain (public testnet); KRW1 becomes the first Korea-based issuer on the network, joining issuers from Japan, Brazil, Mexico, and the Philippines.
SourceKRW1 proof-of-concept goes live on Avalanche with Woori Bank
Successful PoC validates fiat deposits, on-chain issuance, and real-time banking-API reserve attestation; not yet in public circulation.
SourceBDACS trademarks KRW1 brand
BDACS files KRW1 trademark and begins building issuance infrastructure ahead of formal Korean stablecoin regulation.
SourceKorea's First Bank-Backed Won Stablecoin, Stuck in PoC
KRW1 is BDACS's KRW-backed stablecoin, developed with Woori Bank as the reserve custodian and launched on Avalanche in September 2025, but it remains in a proof-of-concept phase rather than public circulation. The structural advantages are real: real-time banking-API reserve attestation through Woori, KISA's endorsement of Avalanche for public-sector reliability, and a February 2026 Plume partnership that positions KRW1 as the Korean institutional settlement rail for tokenized RWAs (Plume hosted roughly $645M in tokenized assets at the time). The commercial gating is Korea's still-pending Digital Asset Basic Act framework, where BDACS is explicitly trying to make KRW1 the technical standard. The strategic weakness is distribution. BDACS is a B2B custodian without a consumer app or retail footprint, which makes KRW1 likely to win on the institutional side and lose to bank-led or super-app issuers if Korea's eventual framework favours retail surfaces. Real-time banking-API runs through Woori Bank , with KRW1 positioning itself as the settlement rail for Korean institutional flows and routed through regulated banking channels.
Updated
Discover
BDACS launches KRW1 stablecoin following successful proof of concept with Woori Bank
Pilot details: each KRW1 fully collateralized via won held in Woori Bank escrow; KISA cites Avalanche for public-sector reliability.
The Korea Won Stablecoin 2026 Race: 6 Players Competing for Asia's Next Financial Frontier
Comparative analysis of KRW1's institutional-RWA settlement positioning versus retail-bank consortium plans under Korea's pending Digital Asset Basic Act.
South Korea's BDACS to launch KRW1 stablecoin on Circle's Arc blockchain
BDACS signs MoU with Circle to bring KRW1 to Arc's public testnet; KRW1 becomes the first Korea-based issuer on the network alongside Japan, Brazil, Mexico, and Philippines issuers.
BDACS brings KRW stablecoin KRW1 to Polygon
Multi-chain expansion to Polygon in December 2025; selected for speed, low fees, and enterprise integrations with Stripe, Circle, and Mastercard.
BDACS and Aptos team up to expand KRW1 stablecoin ecosystem
KRW1 expands beyond EVM chains via Aptos Foundation partnership; Aptos cited for low-cost payments, remittances, and real-world asset tokenisation infrastructure.
BDACS selects LayerZero OFT standard for KRW1
LayerZero's account of the omnichain supply design and the chains where KRW1 is live.
Target Chains
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