Injective and BDACS Plan KRW1 Settlement for Tokenized Assets

Injective and South Korean digital asset custodian BDACS have signed a memorandum of understanding to make BDACS’s KRW1 stablecoin the exclusive won-denominated settlement asset for real-world assets on Injective’s network, subject to regulatory approval. The proposed arrangement would let approved institutional participants trade and settle tokenized assets directly in Korean won, rather than routing transactions through U.S. dollar-backed stablecoins. The companies have described a planned settlement role; the sources do not establish that KRW1 is already being used for live settlements on Injective. BDACS says KRW1 is fully backed by Korean won reserves. Minting and redemption would initially be limited to approved institutional partners, and the planned activity remains subject to regulatory approval. Injective says the token is intended for use across its onchain markets, with further updates expected as specific use cases go live. The agreement comes as South Korea develops rules for digital assets, including stablecoin issuance, disclosures and market conduct. The proposed Digital Asset Basic Act is intended to establish that framework, and the government aims to...