INJ
+3.0%Injective signs MOU with BDACS for won stablecoin settlement
Image: CointelegraphInjective has signed a memorandum of understanding with South Korean custodian BDACS to make KRW1 the exclusive won-denominated settlement asset for tokenized real-world assets on its network. BDACS says KRW1 is fully backed by Korean won reserves. Minting and redemption would initially be limited to approved institutional partners and remain subject to regulatory approval. The tie-up comes as South Korea develops rules for won-backed stablecoins and its five largest exchanges record 18 consecutive months of net stablecoin outflows.
Key points
- Injective signed a memorandum of understanding with South Korean digital asset custodian BDACS covering won-denominated settlement.
- Under the deal, BDACS-issued KRW1 would be the exclusive Korean won settlement asset for tokenized real-world assets on Injective.
- BDACS says KRW1 is fully backed by Korean won reserves.
- Minting and redemption would initially be limited to approved institutional partners and remain subject to regulatory approval.
- South Korea's five largest crypto exchanges recorded 18 consecutive months of net stablecoin outflows, according to industry data cited in the reports.
Why it matters
A won-denominated settlement option could let institutions trade and settle tokenized assets without dollar stablecoins, a market where dollar-backed tokens make up more than 99% of total supply.
What's unclear
Neither report states a launch date for KRW1 or a timeline for the regulatory approval the plan requires.
Price context · INJ
At publication
$8.79
Now
$8.76
Change since
−0.34%
7 days · dashed line = publication
Sources · 3 publishers
Cointelegraph
Tier 1
Injective, BDACS plan Korean won stablecoin settlement for tokenized assets
CoinGape
Tier 2
Injective Signs MOU With BDACS to Make KRW1 Exclusive Won Settlement
Coverage timeline
- First reported by The Block
- Also reported by Cointelegraph
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
