South Korea Launches First Won-Backed Stablecoin on Avalanche

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South Korea’s BDACS has rolled out KRW1, the nation’s first Korean won-backed stablecoin, built on the Avalanche blockchain. Fully collateralized with won deposits at Woori Bank, KRW1 offers a secure and transparent bridge between traditional finance and blockchain. Its launch, following a successful proof of concept, marks a key step in Korea’s digital finance evolution, enabling faster, stable, and on-chain transactions tied directly to the Korean won.