Overview

• BDACS says each KRW1 equals one won held at Woori Bank, with banking APIs providing continuous proof of reserves users can view.
• The launch follows a completed proof of concept that integrated fiat deposits, issuance systems, and user-facing tools with Woori Bank participating.
• A dedicated mobile app enables peer-to-peer transfers and transaction verification as the primary interface for KRW1 holders.
• Avalanche was selected for performance, scalability, and low-cost transactions, and Ava Labs’ Asia head Justin Kim welcomed the rollout.
• BDACS is targeting remittances, payments, and public-sector programs for KRW1 as the FSC drafts stablecoin rules expected in October.