--- title: "Injective and BDACS Partner to Deploy Won Stablecoin for Tokenized Assets" description: "The memorandum of understanding targets Korean won settlement via the KRW1 stablecoin as South Korea prepares digital asset legislation." url: https://basisdesk.news/news/injective-bdacs-korean-won-stablecoin-tokenized-assets published: 2026-10-20T18:02:11.604Z modified: 2026-10-20T18:02:11.604Z section: Stablecoins & Payments author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [INJ] tags: [Injective, BDACS, Korean Won, Stablecoins, Real World Assets, South Korea] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Injective and BDACS Partner to Deploy Won Stablecoin for Tokenized Assets The memorandum of understanding targets Korean won settlement via the KRW1 stablecoin as South Korea prepares digital asset legislation. ## At a glance - **What happened:** Injective and South Korean custodian BDACS signed an MOU to use the won-backed KRW1 stablecoin for tokenized asset settlement. - **Why it matters:** The deal offers institutional investors an on-chain alternative to US dollar stablecoins for settling real-world asset trades. - **Who is affected:** Institutional investors trading tokenized assets on Injective and South Korean digital asset market participants. - **What's next:** South Korea's government aims to finalize the Digital Asset Basic Act by the end of 2026. - **Status:** announced - **Primary source:** [Injective, BDACS plan Korean won stablecoin settlement for tokenized assets](https://cointelegraph.com/news/injective-bdacs-korean-won-stablecoin-tokenized-assets?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com ## Key points - Injective signed an MOU with custodian BDACS to use the won-backed KRW1 as an exclusive settlement asset for tokenized real-world assets [1]. - KRW1 minting and redemption will be limited to approved institutional entities and remains subject to regulatory clearance [1]. - South Korea plans to finalize its Digital Asset Basic Act by the end of 2026 to govern stablecoin issuance and market standards [1]. ## Editorial remark - **Context:** Non-dollar stablecoins make up less than 1% of total stablecoin supply globally, while South Korea's five largest exchanges experienced 18 straight months of net stablecoin outflows through June. - **Impact:** Institutional participants in South Korea may access direct won-denominated settlement rails for tokenized securities without incurring cross-currency foreign exchange risk against the US dollar. - **Watch:** South Korean legislative progress on the Digital Asset Basic Act, which lawmakers target for completion by the end of 2026. Layer-1 blockchain network Injective has signed a memorandum of understanding with South Korean digital asset custodian BDACS to integrate a won-backed stablecoin into its tokenized asset markets [1]. Announced on Tuesday, the agreement positions BDACS's KRW1 stablecoin as the exclusive won-denominated settlement instrument for real-world assets on Injective [1]. The arrangement aims to provide an alternative to US dollar-denominated settlement rails for institutional counterparties trading tokenized products [1]. Under the partnership terms, KRW1 is fully backed by Korean won reserves [1]. Issuance and redemption of the stablecoin will be restricted initially to approved institutional partners and remain contingent on local regulatory clearance [1]. The move builds on previous regional tokenization efforts, such as when [Kakaopay Securities and Dinari Partnered to Tokenize Korean Equities](https://basisdesk.news/news/kakaopay-securities-dinari-tokenize-korean-equities) to expand domestic blockchain access. Injective has also expanded its regulated infrastructure; in August, its institutional services unit registered as a transfer agent with the US Securities and Exchange Commission, allowing it to maintain securities ownership records and manage transfers [1]. Injective's native token ($INJ) held a market capitalization of approximately $887 million at the time of the announcement [1]. ## South Korean Stablecoin Framework Under Development The initiative comes as South Korean authorities work toward finalizing the Digital Asset Basic Act by the end of 2026 [1]. The proposed statute intends to introduce a comprehensive regulatory regime encompassing tokenized asset market conduct, disclosure mandates, and stablecoin issuance criteria [1]. Policymakers continue to debate eligible issuer profiles for won-pegged tokens, prompted in part by a July policy report from Hashed Open Research and the Solana Policy Institute advocating for interim licensing paths and issuance flexibility [1]. South Korea's regulatory deliberation follows major international frameworks, including the European Union's Markets in Crypto-Assets regulation and the US GENIUS Act [1]. Despite regional demand, the broader stablecoin sector remains dominated by dollar tokens, with US dollar-backed assets comprising over 99% of aggregate supply [1]. Concurrently, South Korea's top five crypto exchanges logged 18 straight months of net stablecoin outflows ending in June [1]. ## FAQ **What is KRW1?** KRW1 is a Korean won-backed stablecoin developed by custodian BDACS, designed to settle real-world asset trades on the Injective blockchain. **Who can mint and redeem KRW1?** Minting and redemption are initially restricted to approved institutional partners and require regulatory approval. **When will South Korea finalize its stablecoin framework?** South Korean authorities aim to finalize the Digital Asset Basic Act, which covers stablecoin issuance and market rules, by the end of 2026. ## Sources 1. [Injective, BDACS plan Korean won stablecoin settlement for tokenized assets](https://cointelegraph.com/news/injective-bdacs-korean-won-stablecoin-tokenized-assets?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-10-20 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai