Injective has signed a memorandum of understanding with the South Korean digital asset custodian BDACS. The partnership aims to introduce the KRW1 stablecoin, which is fully backed by Korean won reserves, into tokenized asset markets.
Under the agreement, KRW1 will function as the exclusive settlement asset for real-world assets on the Injective blockchain. This integration allows institutional partners to trade and settle transactions directly in the local currency, reducing reliance on US dollar-pegged stablecoins.
The initiative aligns with South Korea's ongoing development of the Digital Asset Basic Act, which is expected to be finalized by the end of 2026. The legislation will establish a regulatory framework for stablecoin issuance, market rules, and transparency requirements.
Access to minting and redeeming KRW1 will be restricted to approved institutional partners, pending final regulatory approval. Currently, the global stablecoin market is dominated by dollar-backed tokens, which account for over 99% of the total supply.
