Injective and BDACS bring won stablecoin to tokenised assets

• Injective and South Korean custodian BDACS have signed an agreement to expand KRW1 stablecoin use across tokenised assets.
• The partnership targets Korean won-denominated settlement for tokenised real-world assets on Injective’s blockchain.
• The initiative aims to connect South Korean institutional participants with blockchain-based financial markets, subject to applicable regulatory requirements.

Injective (INJ) and South Korean digital asset custodian BDACS have signed a memorandum of understanding to bring KRW1 to tokenised real-world asset markets.

The partnership targets Korean won-denominated settlement, allowing tokenised assets to trade without converting through US dollar stablecoins.

“Bringing a Korean won settlement layer onchain is an important step for tokenized finance in Korea,” according to Injective co-founder Eric Chen.

KRW1 is fully backed by Korean won at a one-to-one ratio, with minting and redemption planned for approved institutional partners, subject to regulatory approval.

“Without onchain won infrastructure, demand in tokenized markets will remain anchored to dollar stablecoins,” according to BDACS CEO Harry Ryoo.

Injective says its network has processed more than $7.5 billion in real-world asset volume and hosted over $1 billion in tokenised asset issuance.

South Korea’s five largest crypto exchanges recorded 18 consecutive months of net stablecoin outflows to offshore platforms, totalling about 14.9 trillion won, or $10.4 billion.

The partnership aims to establish Korean won settlement infrastructure on Injective as local institutions explore tokenised markets under the country’s developing regulatory framework.