South Korea's Won Stablecoin Gets a LayerZero Route to Global Markets

BDACS Picks LayerZero to Unify KRW1 Across Blockchains

BDACS, South Korea's largest digital asset custodian by assets under custody, has selected LayerZero's Omnichain Fungible Token (OFT) standard for its Korean won-backed stablecoin, KRW1. The move is designed to give the token a single, unified supply across multiple blockchain networks as BDACS looks to expand its reach beyond South Korea.

KRW1 already operates on Ethereum, Avalanche, and Circle's Arc network. According to BDACS, running those deployments separately created friction when moving the stablecoin between networks, limiting its distribution and overall utility. The OFT integration addresses that directly. Under the new setup, tokens are debited on the source chain and credited on the destination chain, with LayerZero's Stargate application handling transfers for end users. No wrapped tokens are involved, which means liquidity stays whole rather than splintering across isolated pools.

KRW1 is fully backed 1:1 by Korean won held at Woori Bank and undergoes independent reserve attestation, according to BDACS.

A Proven Standard With Significant Scale

LayerZero's OFT standard is not a new or unproven piece of infrastructure. The protocol now accounts for 87% of all cross-chain transfer volume and has processed $280 billion in lifetime transfers across more than 170 blockchains. Other stablecoins using the same standard include Tether's USDT0, PayPal USD, and Paxos-issued USDG.

For KRW1, the practical benefit is clear. Rather than managing separate token supplies on each chain it enters, BDACS can maintain one global pool and add new networks without creating isolated versions of the asset. The issuer retains full control over the token contract throughout.

The integration also arrives against a shifting regulatory backdrop. In July 2026, South Korea released a won internationalisation roadmap, jointly unveiled by the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, and the Korea Securities Depository, proposing amendments to the Foreign Exchange Transactions Act that would create a legal framework for won-denominated stablecoins. Broader legislative discussions in the National Assembly on digital asset regulation are ongoing. BDACS says wider blockchain access could strengthen KRW1's utility as that framework takes shape.

Sources:
crypto.news: South Korea's KRW1 stablecoin taps LayerZero for cross-chain expansion
PANews: South Korean Onshore KRW Stablecoin KRW1 Integrates LayerZero for Cross-Chain Interoperability