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Injective partners with BDACS to bring KRW1 stablecoin to its RWA ecosystem
The Korean won-backed token, held in escrow at Woori Bank, will be available for trading and settlement on Injective's network
Injective has signed a strategic partnership with BDACS, a South Korean digital asset custodian, to integrate KRW1 into its network. KRW1 is a stablecoin backed by the Korean won.
The deal, announced on October 20, 2026, will enable KRW1 trading and settlement inside Injective’s real-world asset ecosystem.
What the partnership actually does
Under the partnership, KRW1 can be traded and used for settlement on Injective. The integration targets Injective’s real-world asset, or RWA, ecosystem. RWAs are traditional financial instruments represented as tokens on a blockchain.
The aim is to link conventional fiat rails with blockchain infrastructure designed for institutional users.
How KRW1 is backed
KRW1 is fully backed by Korean won. That collateral sits in escrow at Woori Bank, with 100% of it held there.
Verification happens in real time through banking APIs. Instead of waiting for a quarterly attestation, the reserve can be checked against live bank data.
KRW1’s initial proof-of-concept wrapped up on September 18, 2025, and ran on the Avalanche network. That trial was conducted alongside Woori Bank.
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Since then, the token has spread across several blockchains, including Ethereum and BNB Chain. Cross-chain movement relies on LayerZero’s OFT standard. Injective is the latest stop on a growing itinerary.
The numbers so far
As of October 20, 2026, KRW1’s on-chain supply stood at approximately 13.67 million. Earlier reports put total holdings at about 142 million KRW equivalent.
Background: why a won stablecoin matters
A won-denominated option removes foreign exchange exposure for Korean institutions settling on-chain. BDACS, as a custodian, sits in the middle of that bridge, providing reserve transparency that traditional finance players typically demand.
KRW1 is also still awaiting further regulatory approval.
What this means
For Injective, the partnership adds a non-dollar settlement currency to its RWA push. For BDACS, Injective represents another distribution channel. Multi-chain reach through LayerZero means liquidity does not have to be rebuilt from scratch on every network.
With an on-chain supply of approximately 13.67 million, adoption is clearly at an early stage. Growth will depend on whether trading venues and RWA issuers actually choose to price and settle in won.
If KRW1’s on-chain supply climbs meaningfully from its current level after landing on Injective, that would signal real demand for won-based settlement.