$INJ Big news!
On October 20, Injective announced a partnership with BDACS, a South Korean digital asset custodian, with plans to bring KRW1, a Korean won stablecoin issued by BDACS, into the Injective ecosystem as its first KRW-denominated settlement instrument for RWA. The two parties will also work with other South Korean financial institutions to explore bringing assets on-chain, trading, settlement, and other business opportunities, further expanding Injective’s presence in South Korea.
According to Injective’s official announcement, the two parties plan to make KRW1 available alongside Injective’s existing native USDC, allowing RWAs to be denominated and settled directly in Korean won and reducing reliance on dollar stablecoins. At the same time, these assets can use Injective Mint and the underlying Permissions access-management module to set compliance requirements, such as investor verification, restrictions on asset transfers, and jurisdictional limits.
Put simply:
The $INJ blockchain Injective has teamed up with BDACS, a licensed digital asset custodian in South Korea.
BDACS will issue a stablecoin pegged to the Korean won called KRW1, which will be used in the INJ ecosystem. It will be the ecosystem’s first KRW-denominated settlement currency for RWAs (real-world assets brought on-chain).
Going forward, the ecosystem won’t just use USDC (a dollar stablecoin); people will also be able to use the KRW1 Korean won stablecoin directly to trade and settle real-world assets brought on-chain, without relying entirely on dollar stablecoins.
They also plan to bring in other South Korean financial institutions to move real-world assets onto the blockchain and handle on-chain trading and settlement, expanding into the South Korean market.
With INJ’s built-in features, compliance controls can be applied: for example, verifying the identities of those allowed to buy an asset, restricting whether assets can be freely transferred, and limiting access to people in certain regions
On October 20, Injective announced a partnership with BDACS, a South Korean digital asset custodian, with plans to bring KRW1, a Korean won stablecoin issued by BDACS, into the Injective ecosystem as its first KRW-denominated settlement instrument for RWA. The two parties will also work with other South Korean financial institutions to explore bringing assets on-chain, trading, settlement, and other business opportunities, further expanding Injective’s presence in South Korea.
According to Injective’s official announcement, the two parties plan to make KRW1 available alongside Injective’s existing native USDC, allowing RWAs to be denominated and settled directly in Korean won and reducing reliance on dollar stablecoins. At the same time, these assets can use Injective Mint and the underlying Permissions access-management module to set compliance requirements, such as investor verification, restrictions on asset transfers, and jurisdictional limits.
Put simply:
The $INJ blockchain Injective has teamed up with BDACS, a licensed digital asset custodian in South Korea.
BDACS will issue a stablecoin pegged to the Korean won called KRW1, which will be used in the INJ ecosystem. It will be the ecosystem’s first KRW-denominated settlement currency for RWAs (real-world assets brought on-chain).
Going forward, the ecosystem won’t just use USDC (a dollar stablecoin); people will also be able to use the KRW1 Korean won stablecoin directly to trade and settle real-world assets brought on-chain, without relying entirely on dollar stablecoins.
They also plan to bring in other South Korean financial institutions to move real-world assets onto the blockchain and handle on-chain trading and settlement, expanding into the South Korean market.
With INJ’s built-in features, compliance controls can be applied: for example, verifying the identities of those allowed to buy an asset, restricting whether assets can be freely transferred, and limiting access to people in certain regions