BDACS Korean Won Stablecoin KRW1 Officially Launched on Polygon Network
The Korean won stablecoin KRW1, issued by BDACS, has officially launched on the Polygon network. It utilizes a real-time bank-linked reserve proof mechanism and is aimed at payments, remittances, and institutional users. This deployment marks the official launch following the proof-of-concept stage, which confirmed the stability and real-time nature of fiat deposits and on-chain settlements, providing enterprises and users with a convenient digital payment tool.
The reserves for KRW1 are held by Korean commercial institutions, including Woori Bank, and real-time reserve proof is achieved through direct API connections with banks. The Polygon network, with its high throughput and low transaction fees, enables more efficient stablecoin operations, supporting payments, remittances, and enterprise systems.
The partnership between Polygon and BDACS further strengthens Polygon’s position as a platform for institutional stablecoin deployment. The network has established collaborations with global companies such as Stripe, Circle, and Mastercard, providing infrastructure for the interoperability of wallets, exchanges, and payment networks. Polygon executives have stated that the launch of KRW1 helps advance its digital payment framework and demonstrates the network’s operational advantages in regulated digital assets.
Industry insiders point out that KRW1’s multi-chain expansion aligns with BDACS’s strategy to enhance blockchain system liquidity and accessibility, and the real-time verification system will promote institutional adoption of the stablecoin. Experts also believe that KRW1 has potential applications in cross-border remittances, public sector disbursements, enterprise settlements, and international payroll payments.
This launch may increase competitive pressure in the regional stablecoin market, prompting users to migrate to faster and more cost-effective networks. As the multi-chain strategy develops, stablecoin adoption in the Asia-Pacific region may accelerate, while also impacting the strategic landscape of the global on-chain payment ecosystem.