Injective and BDACS sign MOU to use KRW1 stablecoin for tokenized asset settlement
Injective partners with South Korean custodian BDACS to make KRW1 the exclusive won-denominated settlement asset for tokenized real-world assets on its blockchain.
Why it matters
The partnership aims to retain stablecoin capital domestically by providing a won-denominated settlement layer for tokenized assets, addressing a multi-billion dollar outflow to offshore platforms. It also signals institutional adoption of tokenized real-world assets in South Korea ahead of the Digital Asset Basic Act.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported market figure
$7.5 billion
Crypto News (CryptoNews.net)
$1 billion
CoinGape
Crypto News (CryptoNews.net) reports $7.5 billion, CoinGape reports $1 billion (87% apart).
Key facts
Injective signed a memorandum of understanding with BDACS to make KRW1 the exclusive Korean won settlement asset for tokenized real-world assets on the Injective network
Reported by Cointelegraph
KRW1 is a won-backed stablecoin issued by BDACS and fully backed 1:1 by Korean won reserves held at Woori Bank
Reported by Cointelegraph
Minting and redemption of KRW1 are initially limited to approved institutional partners and subject to regulatory approval
Reported by Cointelegraph
South Korea aims to finalize its Digital Asset Basic Act by the end of 2026
Reported by Cointelegraph
Korea's five major crypto exchanges recorded 18 consecutive months of net stablecoin outflows totaling approximately 14.9 trillion won (~$10.4 billion) to offshore platforms since January 2025
10,400,000,000 USDReported by Cointelegraph
Injective has processed over $7.5 billion in real-world asset volume and hosts more than $1 billion in tokenized assets
7,500,000,000 USDDisputed figureReported by Crypto News (CryptoNews.net)
BDACS held over 80 billion won (roughly $54 million) in assets under custody in the first half of 2026
54,000,000 USDReported by Crypto News (CryptoNews.net)
KRW1 launched in September 2025 on Avalanche and later expanded to Circle's Arc blockchain
Reported by Crypto News (CryptoNews.net)
What happened
Injective, a layer-1 blockchain, signed a memorandum of understanding with BDACS, a registered South Korean virtual asset service provider, to designate KRW1 as the exclusive Korean won settlement token for tokenized real-world assets on the Injective network. KRW1 is a won-backed stablecoin issued by BDACS, fully backed 1:1 by Korean won reserves held at Woori Bank. Minting and redemption are initially restricted to approved institutional partners and remain subject to regulatory approval. The agreement comes as South Korea works to finalize its Digital Asset Basic Act by the end of 2026. Injective reports over $7.5 billion in real-world asset volume and more than $1 billion in tokenized assets issued, while BDACS held over 80 billion won (roughly $54 million) in assets under custody in the first half of 2026. Korea's five major exchanges have seen 18 consecutive months of net stablecoin outflows to offshore platforms, totaling approximately 14.9 trillion won (~$10.4 billion) since January 2025.
How the story developed
- First report
First report by Cointelegraph
Injective, BDACS plan Korean won stablecoin settlement for tokenized assets
- Update
Injective and BDACS announce MOU for KRW1 settlement
Injective and BDACS sign memorandum of understanding to make KRW1 the exclusive won-denominated settlement asset for tokenized RWAs on Injective
- Update
Crypto News syndicates the announcement
Crypto News publishes the Injective-BDACS MOU announcement with additional details on KRW1 reserves and Injective's RWA volume
- Independent corroboration
Independently corroborated by CoinGape
Injective Signs MOU With BDACS to Make KRW1 Exclusive Won Settlement
- Update
CoinGape publishes independent coverage with stablecoin outflow data
CoinGape reports on the MOU with specific figures on 18 months of stablecoin outflows totaling ~$10.4 billion
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 20 Oct 2026, 16:47 UTC: Cointelegraph — 1 independent source, 1 reports
- 20 Oct 2026, 22:09 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 21 Oct 2026, 07:41 UTC: CoinGape — 3 independent sources, 3 reports
Affected entities
Also mentioned: United States, Solana, USD Coin, European Union, Avalanche, Mastercard, NYSE
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Cointelegraph Crypto media | Injective, BDACS plan Korean won stablecoin settlement for tokenized assets | Original | |
| CoinGape Crypto media | Injective Signs MOU With BDACS to Make KRW1 Exclusive Won Settlement | Independent | |
| Crypto News (CryptoNews.net) Aggregator | Injective, BDACS sign MoU to settle tokenized assets in Korean won stablecoin | Syndicated |
Related events
Malaysian court grants Ripple charging order over Seamless Group's Tranglo stake to recover unpaid XRP invoices
A Malaysian court gave Ripple a charging order over Seamless Group's 60% stake in Tranglo, valued at $400 million, to collect roughly $24 million in unpaid XRP invoices from Ripple's ODL service.
Ripple Expands Brevan Howard Partnership With Prime Brokerage and Clearing Services
Ripple Prime will provide multi-asset prime brokerage, clearing, and financing services to Brevan Howard's funds under an expanded partnership announced October 6.
Ripple adds Korean brokerage Meritz, Singapore hub XRP Asia and RLUSD custody at Standard Chartered
Ripple signed a Seoul deal with Meritz Securities, launched XRP Asia in Singapore, and Standard Chartered began RLUSD custody in Dubai.
Kakao Pay and KakaoBank sign MoU with Fireblocks to test stablecoin infrastructure in South Korea
Kakao Pay and KakaoBank signed an MoU with Fireblocks to run proof-of-concept tests of digital asset and stablecoin infrastructure built for South Korean regulatory, security and service requirements.
Bitget Confirms $351 Million Security Breach, Suspends Withdrawals During Investigation
Bitget confirmed a $351.6 million breach affecting hot and warm wallets and suspended withdrawals, Cointelegraph reported.
Kakaopay Securities teams with Dinari and Ondo on tokenizing Korean stocks
Kakaopay Securities signed separate deals with Dinari and Ondo Finance to explore tokenizing Korean-listed stocks for sale to investors outside South Korea.
