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$GRVT Injective has signed a memorandum of understanding with BDACS, a South Korean digital asset custodian, to support a won-backed stablecoin for tokenized asset trading on its network. The initiative is designed to give institutions a Korean won settlement option, potentially reducing reliance on US dollar stablecoins for activities tied to real-world assets (RWAs). Under the arrangement announced Tuesday, BDACS’s KRW1 stablecoin would act as the exclusive won-denominated settlement asset for RWAs on Injective. That means approved market participants could trade and settle tokenized assets directly in Korean won, rather than routing transactions through dollar-pegged stablecoins. Key takeaways Injective will use BDACS’s won-backed KRW1 as the exclusive settlement asset for RWAs on its tokenized asset markets. BDACS says KRW1 is fully backed by Korean won reserves, with minting and redemption initially limited to approved institutional partners. The program is tied to South Korea’s broader regulatory work on won-backed stablecoins under the proposed Digital Asset Basic Act. South Korean exchanges have reportedly seen net stablecoin outflows for 18 straight months through June, according to industry data cited by Cointelegraph. Injective has been expanding institutional infrastructure, including US SEC registration as a transfer agent for its institutional services arm. A won settlement layer for tokenized assets Stablecoins remain central to how crypto markets handle fast settlement, but most of the ecosystem is still heavily oriented around the US dollar. Injective’s agreement with BDACS aims to change that for at least one important use case: institutional trading and settlement of tokenized real-world assets on a layer-1 network. BDACS states that KRW1 is “fully backed” by Korean won reserves. The memorandum also specifies that minting and redemption would initially be limited to approved institutional partners, subject to regulatory approval. For investors and institutions, the operational difference is straightforward: if tokenized assets can settle in KRW instead of US dollars, the workflow can better match local cash management and reduce exposure to cross-currency settlement frictions. While the details of implementation are still contingent on approvals, the scope of the plan is notable. Injective is positioning KRW1 not as a secondary token option, but as the exclusive won-denominated settlement asset for RWAs on its platform under the agreement. Regulation in South Korea is the swing factor The BDACS–Injective memo arrives as South Korea continues building out a legal framework for won-backed stablecoins. Lawmakers are working on the proposed Digital Asset Basic Act, which the government aims to finalize by the end of 2026. Until that framework is in place, practical rollout is likely to depend on how regulators define issuers, licensing pathways, disclosures, and operational limits. A July policy report by Hashed Open Research and the Solana Policy Institute argued for more flexibility in stablecoin issuance while legislation is developed, including interim licensing guidance. According to Cointelegraph, the proposed law would create a broader regulatory structure for digital assets—covering stablecoin issuance rules, disclosure requirements, and market conduct. This matters because stablecoin issuance typically brings two intertwined risks for regulators: reserve management (including proof of backing and redemption processes) and market integrity (including who can issue, how transparency works, and how stablecoins interact with broader financial systems). Injective’s involvement, framed around settlement for tokenized RWAs, adds another regulatory layer—since tokenized assets can themselves touch securities and market-structure questions. South Korea’s stablecoin regulatory efforts also sit in a global context. The article notes the US GENIUS Act, which established a federal regulatory framework for payment stablecoins, and the European Union’s MiCA rules for stablecoin issuers. Together, these developments highlight a wider trend: stablecoins are increasingly moving from “informal market infrastructure” toward a regulated financial instrument category. Why won-backed stablecoins are gaining attention Even with regulatory momentum worldwide, stablecoin supply remains heavily dollar-led. Industry data cited by Cointelegraph via Stablecoin Beat indicates that dollar-backed tokens make up more than 99% of total stablecoin supply. That imbalance helps explain why institutions outside the US often face operational and risk-management challenges when they want crypto-native settlement but prefer local currency handling. Cointelegraph also points to ongoing demand and flow signals from South Korea. It cites industry data showing the country’s five largest crypto exchanges recorded net stablecoin outflows for 18 consecutive months through June. While the memorandum does not directly attribute causes for those outflows, the trend suggests that Korean market participants may have been moving stablecoin liquidity offshore rather than keeping settlement assets within local won-denominated rails. A won-backed settlement asset, if it scales, could address part of that friction. Rather than relying on US dollar stablecoins for tokenized asset settlement, institutions could align trading and settlement with Korean won, which may reduce certain conversion steps and allow more direct integration with local banking and treasury processes—assuming regulators and approved partners can operate within the compliance regime. Injective’s institutional push and next steps to watch Injective is not new to institutional-oriented infrastructure. In August, its institutional services arm registered with the US Securities and Exchange Commission as a transfer agent, enabling it to maintain ownership records and help facilitate securities transfers. That step aligns with Injective’s broader push to support tokenized securities and other RWA-related markets, where recordkeeping and operational controls are especially important. Cointelegraph also reports Injective’s native token market capitalization as roughly $887 million, based on CoinMarketCap data. While token valuation is not directly related to the KRW1 memo’s technical feasibility, it can affect market confidence and liquidity—factors that matter if institutions expect robust trading conditions around tokenized asset workflows. For now, the most important uncertainty is timing and permissibility. The KRW1 settlement role is tied to regulatory approval, and BDACS says minting and redemption will initially be restricted to approved institutional partners. Readers should watch for how South Korea’s stablecoin rules clarify eligibility for issuers and redemption systems, and whether interim licensing guidance (discussed in the July policy report) accelerates the path from memorandum to real settlement usage. If South Korea’s regulatory process stays on schedule and approved institutions begin using KRW1 for tokenized RWA settlement on Injective, the development could become a practical alternative to dollar-centric stablecoin settlement. The key question is whether regulators will enable enough market participants—and enough mint/redemption throughput—to make won-backed settlement a scalable option rather than a limited pilot. This article was originally published as Injective and BDACS Move to Settle Tokenized Assets in KRW Stablecoin on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

$GRVT TL;DR Injective signed an agreement with BDACS to integrate KRW1, a South Korean won-pegged stablecoin, into its RWA ecosystem. The integration will enable tokenized assets to be traded and settled directly in Korean won, without relying on dollar-pegged stablecoins. KRW1 minting and redemption will be restricted to approved institutions and remain subject to regulatory approval in South Korea. Injective signed a memorandum of understanding with BDACS to integrate KRW1, a South Korean won-pegged stablecoin, into its tokenized asset ecosystem. The agreement establishes KRW1 as the exclusive won-denominated settlement asset for real-world asset (RWA) transactions on the network. The integration will enable tokenized assets to be traded and settled directly in South Korean won, without first converting funds into dollar-backed stablecoins. However, KRW1 minting and redemption will be restricted to approved institutional partners and remain subject to approval by South Korean regulators. Injective Seeks to Bring the Korean Won to Tokenized Asset Markets South Korea is working on the Digital Asset Basic Act, proposed legislation that would establish rules for won-denominated stablecoins. The bill is in its final stages of government consultation and is expected to reach parliamentary discussions next month. BREAKING: The Korean won is being tokenized on Injective. Injective is bringing one of the world’s largest currencies onchain for our rapidly growing RWA ecosystem.@BDACSKorea is issuing KRW1, Korea’s first won backed stablecoin, with reserves held at a major Korean bank. pic.twitter.com/xbH870x8jB — Injective (@injective) October 20, 2026 Currently, more than 98% of the stablecoin market’s capitalization comes from assets pegged to the US dollar. According to figures cited by the companies, South Korea’s five largest crypto exchanges recorded 18 consecutive months of net stablecoin outflows, totaling approximately $10.4 billion to overseas platforms. Harry Ryoo, CEO of BDACS, explained that the company intends to use KRW1 to facilitate settlements of tokenized assets in local currency as regulations develop. Expanding Institutional Infrastructure BDACS is a registered virtual asset service provider in South Korea, specializing in custody and infrastructure for institutional clients. During the first half of 2026, the company reported holding more than 80 billion won in assets under custody. Meanwhile, Injective had already been selected by POSCO International and LG CNS to manage the issuance, transfer, and settlement of trade receivables linked to international commerce. According to the network, Injective has processed more than $7.5 billion in real-world asset transactions, while the value of tokenized assets issued on its infrastructure exceeds $1 billion. The KRW1 integration will begin rolling out as South Korean institutions bring assets onto the network and the various use cases receive regulatory approval.

$YGG Blockchain network Injective has entered into a memorandum of understanding with South Korean digital asset custodian BDACS to bring a won-backed stablecoin to its tokenized asset markets, potentially allowing institutions to settle transactions without relying on US dollar stablecoins. According to a Tuesday announcement, BDACS’s KRW1 stablecoin would serve as the exclusive won-denominated settlement asset for real-world assets (RWAs) on Injective, allowing institutions to trade and settle tokenized assets directly in Korean won. BDACS says KRW1 is fully backed by Korean won reserves. Minting and redemption would initially be limited to approved institutional partners, subject to regulatory approval. The agreement comes as South Korea develops rules for won-backed stablecoins under its proposed Digital Asset Basic Act, which the government aims to finalize by the end of 2026. In the meantime, the country’s five largest crypto exchanges recorded net stablecoin outflows for 18 consecutive months through June, according to industry data cited by Cointelegraph. Injective is a layer-1 blockchain that has increasingly focused on tokenized assets. In August, its institutional services arm registered with the US Securities and Exchange Commission as a transfer agent, allowing it to maintain ownership records and facilitate securities transfers. Injective’s native token has a market capitalization of roughly $887 million, according to CoinMarketCap data. Related: China’s P2P stablecoin wallets surge 43x, Korea’s $450B crypto economy: Asia Express South Korea moves toward won-backed stablecoin regulation South Korea is still debating who can issue won-backed stablecoins as lawmakers work on the Digital Asset Basic Act. A July policy report by Hashed Open Research and the Solana Policy Institute called for greater flexibility in stablecoin issuance and interim licensing guidance while the legislation is being developed. The proposed law would establish a broader framework for digital assets, covering stablecoin issuance, disclosures and market rules. South Korea’s efforts follow the passage of the US GENIUS Act, which established a federal regulatory framework for payment stablecoins, and the European Union’s Markets in Crypto-Assets Regulation (MiCA), which includes rules governing stablecoin issuers. Industry data shows the stablecoin market remains overwhelmingly dollar-denominated, with US dollar-backed tokens accounting for more than 99% of the total supply. Related: Mastercard launches stablecoin risk screening for banks and payment providers

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