BDACS unveils KRW-backed stablecoin KRW1 on Avalanche
Key Takeaways
- BDACS has launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain.
- KRW1 is fully backed by Korean won reserves held at Woori Bank.
South Korea’s BDACS launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. The digital asset is fully collateralized with Korean won held at Woori Bank.
The launch follows successful proof of concept validation, marking one of the first stablecoins pegged to South Korea’s national currency to operate on a major blockchain network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
