Injective and BDACS strike deal to settle tokenized assets in won

On October 20, 2026, Injective, a layer-1 blockchain, and South Korean custody firm BDACS announced a memorandum of understanding making KRW1, a won-backed stablecoin, the exclusive won settlement token for tokenized real-world assets on Injective. The arrangement lets Korean institutions pay for tokenized assets directly in won instead of converting to dollar stablecoins. KRW1 launched in September 2025 with Woori Bank, which holds its won reserves in escrow, and was South Korea’s first fully regulated won-backed stablecoin at launch. Minting and redemption are limited to approved institutional partners and depend on regulatory approval. Injective says it has handled more than $7.5 billion in real-world asset volume.