Overview
- BDACS confirmed a memorandum of understanding with Circle to support issuing KRW1 on the Arc Layer-1.
- KRW1 is presented as fully backed at a 1:1 ratio with escrowed reserves at Woori Bank and real-time proof-of-reserves APIs.
- The stablecoin debuted on Avalanche in September 2025, with Arc set as its next network for distribution.
- Circle launched Arc in August 2025 as a stablecoin-focused chain integrated with USDC and EURC for payments and tokenized assets.
- South Korea’s Financial Services Commission is preparing comprehensive stablecoin rules expected by year-end 2025, which could shape KRW1’s rollout.