🇰🇷 NOW: South Korea's BDACS launches the first KRW-backed stablecoin KRW1 on Avalanche, fully collateralized with Korean won held at Woori Bank following successful proof of concept validation. https://t.co/SckGehw7wT ...

Decentralized Finance (DeFi) Innovation - The DeFi sector is exploring the possibility of collateralizing long-tail prediction market bets, such as those on Polymarket, to obtain loans [1] - The concept involves representing prediction market positions (e g, "Trump to win the Presidential Election") as NFTs and using them as collateral for loans [1] - The industry believes this is just the beginning of the potential applications within the DeFi space [1]

Adoption of Chainlink Proof of Reserve - Bitget, a leading exchange with over 120 million users, has adopted the Chainlink Proof of Reserve on Ethereum to enhance transparency around its wrapped Bitcoin asset, BGBTC [1] - The adoption of Chainlink data standard on Ethereum brings enhanced transparency to BGBTC collateralization [1] BGBTC and DeFi - BitVaultFinance uses BGBTC in its DeFi yield strategies and as a collateral asset within its lending vaults [1] - Chainlink Proof of Reserve enables BitVaultFinance to strengthen the confidence and trust of its users [1] Assets and Monitoring - Bitget has over $8 billion in total assets [1] - Near real-time monitoring of BGBTC is enabled [2]