Injective (INJ)said it signed an MOU with BDACS to explore KRW1 as a won settlement asset for tokenized markets and RWAs on its network.
Injective (INJ)said on 2026-10-20 that it has partnered with BDACS, the issuer of KRW1, in a memorandum of understanding to explore KRW1 as a Korean won settlement asset for real-world assets and tokenization use cases within the Injective ecosystem. The companies said the effort is aimed at bringing a won-denominated settlement layer to onchain finance, with access initially focused on approved institutional partners subject to regulatory approval.
According to Injective’s announcement, KRW1 is fully backed 1:1 by Korean won reserves and was presented as Korea’s first stablecoin backed by the won. The company said the collaboration would allow tokenized assets on Injective to trade and settle directly in won rather than routing through dollar stablecoins, which it framed as a way to reduce foreign-exchange exposure for Korean institutions and investors.
The announcement cited broader stablecoin and market conditions to support the case for a local settlement asset. Injective said total onchain stablecoin supply reached a record $322 billion in May 2026 and referenced a Citi base-case projection of $1.9 trillion by 2030. It also said Korea’s five major exchanges have recorded 18 straight months of net stablecoin outflows to offshore platforms since January 2025, totaling about 14.9 trillion won, or roughly $10.4 billion, according to the company’s statement.
Injective and BDACS said the work will include cooperation with Korean financial institutions and further adoption of KRW1 across Injective’s markets as Korea’s regulatory framework develops.
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