BDACS Expands KRW Stablecoin ‘KRW1’ to Plume Mainnet

BDACS, a digital-asset custody specialist, said on the 3rd that it has expanded South Korea’s first won-pegged stablecoin, ‘KRW1,’ to the real-world asset (RWA)-focused blockchain network Plume.

With the integration, won-based on-chain payments and liquidity provision become possible within the Plume ecosystem, enabling developers, financial institutions and asset issuers to design a range of RWA financial products using won-denominated assets in a regulation-friendly environment.

KRW1 is a stablecoin pegged 1:1 to the Korean won and is used as a won-based payment and liquidity instrument within the Plume ecosystem. This allows institutional investors and asset issuers to operate won-denominated assets more efficiently in an on-chain RWA environment without relying on dollar-based stablecoins.

KRW1, launched in September last year, is a won stablecoin for which all issued tokens are fully collateralized by won-denominated assets deposited at major domestic commercial banks. The Plume integration marks tangible progress toward building a won stablecoin ecosystem and is expected to serve as a catalyst for more fully connecting won liquidity to institutional-grade assets, centered on Plume’s RWA platform ‘Nest by Plume.’

Teddy Pomprignan, co-founder and chief business officer (CBO) of Plume Network, said the addition of KRW1 to Plume “will strengthen Plume’s scalability as a global on-chain payments infrastructure,” adding that it “illustrates growing demand for stablecoins backed by currencies other than the U.S. dollar in the institution-led RWA market.” He added that “in South Korea, where RWA issuance is growing rapidly and the regulatory environment is taking shape, won liquidity will open up new use cases.”

Ryu Hong-yeol, CEO of BDACS, said, “Adding KRW1 to the Plume Network, which specializes in asset tokenization and on-chain finance, is meaningful progress,” adding that “KRW1 will continue to expand its scope of use going forward as core infrastructure connecting the blockchain-based financial ecosystem.”