The Korean won is coming to the Injective blockchain
@Injective is partnering with custody infrastructure company @BDACSKorea to launch $KRW1, Korea’s first stablecoin, fully backed 1:1 by cash held in the treasuries of domestic commercial banks.
The initiative aims to address ongoing capital flight: over 18 consecutive months, South Korean traders withdrew approximately $10.4 billion in stablecoins from domestic exchanges such as Upbit to offshore platforms.
This latest stablecoin initiative builds on Injective’s existing enterprise pipeline, which includes POSCO International and LG CNS settling their trade receivables.
@Injective is partnering with custody infrastructure company @BDACSKorea to launch $KRW1, Korea’s first stablecoin, fully backed 1:1 by cash held in the treasuries of domestic commercial banks.
The initiative aims to address ongoing capital flight: over 18 consecutive months, South Korean traders withdrew approximately $10.4 billion in stablecoins from domestic exchanges such as Upbit to offshore platforms.
This latest stablecoin initiative builds on Injective’s existing enterprise pipeline, which includes POSCO International and LG CNS settling their trade receivables.