- BDACS launches South Korea’s first won-pegged stablecoin, KRW1, on Avalanche with full Woori Bank backing.
- The stablecoin’s infrastructure includes real-time banking APIs and a user app for transfers and verification.
BDACS has launched a stablecoin backed by the national currency. The new asset, called KRW1, is available on Avalanche. Each KRW1 token is supported by one Korean won held in a reserve account at Woori Bank. Woori Bank is one of the major commercial banks in the country.
This release occurred after the company finished a technical trial for KRW1. BDACS will utilize banking application programming interfaces from Woori Bank. The company says this integration will enable transparency and permit verification of its reserves.
The custodian built a complete operational structure for the stablecoin. The structure handles the creation and administration of the tokens. It also includes a mobile application for users. This app allows person-to-person transfers and lets users confirm transactions.
BDACS intends for KRW1 to be used for international payments and money transfers. Another goal is for the token to serve investment purposes. It might also be integrated into government systems in the future.
Avalanche (AVAX) is trading at $33.73, down 4.18% in the last 24 hours. Despite the dip, AVAX has gained 15.7% in the past week and 50.9% over the past month, with a market capitalization of $14.26 billion and a daily trading volume of $2.09 billion.
Price has fluctuated between $29.44 and $33.20 recently, showing strong short-term volatility. Over the past year, AVAX is up 36.4%, though year-to-date it remains slightly negative at -5.25%. The token is still far below its all-time high of $147.50, leaving a wide gap for potential growth if bullish conditions continue.
News around Avalanche highlights growing adoption in payments and ETFs. PayPal has expanded its PYUSD stablecoin to Avalanche and several other chains, strengthening AVAX’s role in multi-chain stablecoin settlements.
In Asia, Avalanche is expanding stablecoin payments in Korea and Japan, targeting real-world payment applications. Meanwhile, asset managers like Bitwise, VanEck, and Grayscale have filed to launch Avalanche-based ETFs, reflecting institutional interest.
From a technical perspective, AVAX faces resistance near $34.50, while strong support sits around $30.00–$29.50. Traders note the token is consolidating after a strong rally, with oscillators cooling near neutral levels.
If AVAX clears $34.50, it could set up a move toward $38–$40, while a failure to hold above $30 could see a correction toward $27–$28.
