Injective and BDACS Plan Won Stablecoin Settlement for Tokenized Assets
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Injective and BDACS aim to use the won-backed KRW1 stablecoin for settlement in tokenized asset markets as South Korea develops rules for local currency stablecoins.
Injective and BDACS are planning to introduce KRW1, a stablecoin backed by the Korean won, as a settlement option for tokenized assets.
The proposed initiative would connect the won-denominated token with markets for assets represented on blockchain networks. The source report did not specify a launch date or the assets that would be supported.
The plans come as South Korea works on a regulatory framework for stablecoins tied to its local currency. The report did not indicate whether the proposed settlement arrangement has received regulatory approval.
Source: Cointelegraph
