BDACS partners with Circle to launch KRW1 stablecoin on Arc
A leading South Korean digital‑asset infrastructure provider, BDACS, announced a strategic partnership with global fintech company Circle to issue won‑pegged stablecoin KRW1 on Circle’s new blockchain platform, Arc.
The partnership opens the door for BDACS to integrate the Korean won (KRW) into the global decentralized‑finance (DeFi) ecosystem.
To execute the project, the companies signed a memorandum of understanding laying the groundwork for close collaboration. BDACS, which registered the KRW1 trademark back in December 2023, had been searching for a reliable partner to launch its stablecoin. Circle, the issuer of USDC, offers extensive experience in stablecoin infrastructure and regulatory compliance required for integration.
Arc, launched on 28 October as a public test network, positions itself as a Layer‑1 blockchain purpose‑built for on‑chain finance. The platform aims to provide the scalability and regulatory alignment needed to issue compliant digital assets, particularly stablecoins.
BDACS CEO Ryu Hong‑yeol called the deal “a significant step for Korea's innovation on the global stage.” He said listing KRW1 on Circle Arc opens “the gateway for Korean businesses to engage in a trusted and regulatory-compliant global stablecoin network.” The partnership could set a precedent for other national currencies seeking tokenization and broader international access.
The KRW1 launch on Arc is expected to simplify cross‑border payments and trade for Korean businesses. Secondary benefits may include increased liquidity and greater global recognition of the won across the Web3 landscape. The collaboration strengthens both BDACS and Circle as leaders shaping the future of digital finance in the Asia‑Pacific region.
Recommended