Injective and BDACS Name KRW1 as Planned Sole Won Settlement Asset

Injective and South Korean digital asset custodian BDACS have named KRW1 as the planned sole won settlement asset for tokenized activity on Injective, creating a local-currency route for institutional real-world asset transactions.

The companies’ Oct. 20 memorandum of understanding specifies KRW1, issued by BDACS, as the exclusive Korean won settlement asset for the planned activity. The arrangement would let institutions settle tokenized assets in won without first converting to dollar-backed stablecoins. It remains a proposed use of KRW1 on Injective.

The agreement to explore won settlement for tokenized assets centers on using KRW1 for activity involving real-world assets (RWA) and tokenization. The memorandum names the token as the sole won settlement asset for that activity.

Minting and redemption on Injective would be restricted to approved institutional partners, and both actions would require regulatory approval. The stated restriction applies to those two functions.

The Injective network has processed more than $7.5 billion in cumulative RWA trading volume and issued more than $1 billion in tokenized assets.