Aptos Signs MOU With BDACS to Expand KRW1 Stablecoin Ecosystem

Aptos, a global blockchain infrastructure company, said on May 13 that it signed a strategic memorandum of understanding with BDACS to expand the ecosystem for KRW1, a won-pegged stablecoin. KRW1 is the world’s first won-denominated stablecoin issued by BDACS.

The companies plan to integrate KRW1 into the Aptos ecosystem and expand its use in payments, settlements and digital commerce.

They also plan to explore stablecoin use cases in the real economy, including linking mobile coupon and gift certificate services and cooperating on digital wallet infrastructure.

Ash Pampati, head of growth at the Aptos Foundation, said the importance of fast and reliable shared infrastructure is increasing as the digital finance market expands. In South Korea, a key market, Aptos aims to combine BDACS’s KRW1 with its own infrastructure to support a range of financial settings spanning payments and settlements, digital-asset distribution and real-world assets, or RWA.

Aptos was founded by developers from Meta’s former blockchain project Diem. The company is focused on building infrastructure that connects digital assets with next-generation financial systems and is expanding partnerships with global financial institutions and technology companies.

Projects related to BlackRock, Franklin Templeton and Apollo Global Management are currently operating on the Aptos network. Aptos is also working with Microsoft, Google Cloud and Mastercard.