Injective has entered into a strategic partnership with the South Korean digital asset custodian BDACS. The collaboration aims to integrate the KRW1 stablecoin, which is pegged to the Korean won, into the Injective network.
The agreement, announced on October 20, 2026, allows for the trading and settlement of KRW1 within Injective’s ecosystem for real-world assets. This move is intended to connect traditional fiat systems with blockchain infrastructure for institutional users.
The KRW1 token is fully backed by Korean won, with 100% of the collateral held in escrow at Woori Bank. Reserve verification is conducted in real time via banking APIs, replacing the need for quarterly attestations.
The initial proof-of-concept for KRW1 was completed on September 18, 2025, on the Avalanche network in collaboration with Woori Bank. The token currently operates on multiple blockchains, including Ethereum and BNB Chain, utilizing the LayerZero OFT standard for cross-chain transfers.
As of October 20, 2026, the on-chain supply of KRW1 is approximately 13.67 million. Previous reports indicated total holdings of about 142 million KRW equivalent. The partnership provides Injective with a non-dollar settlement currency and offers BDACS an additional distribution channel.
