RT sarahsss (@Sarahssscy)The new stablecoin KRW1 is now live on @BNBCHAIN !Although its regulatory status in the relevant jurisdiction is still pending final confirmation, this kind of exploration remains meaningful for the industry.We support innovation carried out under proper compliance and look forward to seeing more fiat currencies safely and transparently digitized and tokenized — one of the most important and practical applications of blockchain technology. ...

Learn more about the deployment: https://t.co/H695OilY1MBDACS (@BDACSKorea):🫱🏼‍🫲🏼@BDACS x @0xPolygonEco – BDACS Expands KRW1 to the Polygon EcosystemWe are excited to expand KRW1 to the Polygon ecosystem.BDACS has deployed its KRW-backed, regulatory-first stablecoin KRW1 on the Polygon blockchain — following a successful PoC proving full end-to-end https://t.co/RNo9XkJuw6 ...

Product Launch - Circle launches StableFX, an institutional-grade stablecoin FX engine combining RFQ execution with onchain settlement [1] - Circle introduces Circle Partner Stablecoins, a program supporting select regional issuers to expand stablecoin currencies available in StableFX [2] StableFX Features - StableFX aims to deliver seamless execution, a wide range of assets, and instant settlement [2] - StableFX is designed for competitive RFQ pricing across liquidity providers, instant onchain settlement, and 24/7 capital-efficient design [3] Partner Stablecoins - Initial participants in Circle Partner Stablecoins include AUDF, BRLA, JPYC, KRW1, MXNB, PHPC, QCAD, and ZARU [4] Technology and Access - StableFX is currently live on @Arc Testnet [2]

New Product Launch - Circle 发布 StableFX，一个机构级别的稳定币外汇引擎，结合了询价执行（RFQ execution）与链上结算 [1] - Circle 推出 Circle Partner Stablecoins 计划，支持特定的区域发行方，扩大 StableFX 中可用的稳定币种类 [2] Technology and Design - StableFX 目前在 @Arc Testnet 上线 [2] - StableFX、Circle Partner Stablecoins 和 Arc 旨在提供无缝执行、广泛的资产范围和即时结算 [2] - StableFX 提供有竞争力的询价（RFQ）定价，覆盖多个流动性提供商 [3] - StableFX 支持即时链上结算 [3] - StableFX 采用 24/7 全天候资本高效设计 [3] Partner Stablecoins - 初始参与者包括 AUDF by @ForteAUD, BRLA by @aveniaio, JPYC by @jpy_coin, KRW1 by @BDACSKorea, MXNB by Juno (a @Bitso company), PHPC by @coinsph, QCAD by @stablecorp, ZARU by the @ZARUniversal [4] Market Focus - 外汇市场是世界上最大的市场，但也是现代化程度最低的市场之一 [1] - 旨在加速向全球互联金融系统（运行在稳定币轨道上）的转变 [2]

South Korea's central bank has sounded the alarm on won-denominated stablecoins, warning private issuers lack the institutional trust required to maintain stable currency and urging traditional banks to take the lead instead. The Bank of Korea (BOK) released a report Monday outlining major risks associated with won-pegged stablecoins, comparing them to historical currency failures from America's mid-19th-century free-banking era to Korea's own Dangbaekjeon crisis under King Gojong. "Currency operates not ...

Core Insights - China will maintain strict regulations on cryptocurrencies and stablecoins while monitoring international developments in digital assets [1][2] - The People's Bank of China (PBOC) emphasizes the risks associated with stablecoins, particularly regarding customer identification and anti-money laundering compliance [2] - The PBOC plans to collaborate with law enforcement to enforce regulations and protect financial stability within China [1] Regulatory Environment - PBOC Governor Pan Gongsheng highlighted concerns over stablecoins increasing global financial system vulnerabilities and undermining monetary sovereignty in less developed economies [2] - The PBOC will closely monitor the development of stablecoins in overseas markets, indicating a proactive regulatory stance [2] Market Developments - Japanese startup JPYC launched the first yen-backed stablecoin, aiming to issue $66 billion (10 trillion yen) worth of tokens over three years [2] - South Korea introduced its first fully regulated won-backed stablecoin, KRW1, through BDACS and Woori Bank [3] - Bank of China’s Hong Kong shares rose on reports of plans to apply for a stablecoin license, while Standard Chartered has shown interest in the stablecoin market [3] Industry Trends - Users on Myriad are optimistic about the stablecoin market, predicting a market cap exceeding $360 billion before February [4] - Chinese firms are exploring offshore stablecoin opportunities, with Ant Group applying for the "ANTCOIN" trademark in Hong Kong and JD.com seeking licenses for cross-border B2B payments [4] Global Perspective - The role of Chinese regulators in shaping global stablecoin regulation is evolving amid relative financial stability and the absence of sanction-related pressures [5]

Core Insights - Major South Korean banks are exploring the development of KRW stablecoins, with BDACS creating a proof-of-concept for KRW1, potentially the first won-pegged stablecoin since the Digital Basic Act was passed [1][8] - The initial wave of South Korean stablecoins is not based on Ethereum but utilizes alternative blockchains like Avalanche and Solana [2] - KRW1 is characterized as a deposit token, fully backed by cash reserves held in a segregated account at Woori Bank, rather than being directly issued by a bank [3] Group 1: Development and Infrastructure - BDACS has chosen Avalanche for the initial launch of KRW1 due to its "technological excellence," with plans to expand to other networks in the future [4] - Wavebridge has partnered with the Solana Foundation to develop KRW stablecoin infrastructure aimed at financial institutions, indicating a collaborative effort to enhance blockchain adoption [5][6] Group 2: Competitive Landscape - The partnership between Solana Foundation and Wavebridge highlights the opportunities presented by new KRW stablecoins for blockchain adoption, with BDACS currently leading the race [7] - Despite BDACS's advancements, KRW1 may face competition from a coalition of nine major South Korean banks that are also exploring stablecoin initiatives [7][9] Group 3: Regulatory Environment - The passage of South Korea's Digital Basic Act has facilitated the development of KRW stablecoins, prompting banks and fintech companies to actively engage in this emerging space [8][9] - Following the enactment of the Digital Basic Act, numerous banks and payment companies have filed trademark applications, indicating their ambitions in the stablecoin market [9]

Core Insights - Solana Foundation has partnered with Wavebridge to create a compliance-ready KRW-pegged stablecoin aimed at institutional use [1][3] - The collaboration will focus on developing a tokenization engine for managing issuance, verification, and compliance of Korean won stablecoins [2] - South Korea is preparing to introduce a regulatory framework for won-backed stablecoins, with legislation expected this month [4] Group 1: Partnership Details - The partnership between Solana and Wavebridge involves creating institutional-grade tokenization products [1] - Wavebridge will lead in regulatory coordination and compliance, leveraging its expertise alongside Solana's global ecosystem [3] Group 2: Market Context - The introduction of the KRW-pegged stablecoin comes as stablecoins gain popularity, with Tether planning to engage with domestic fintech companies [5] - The first Korean won-backed stablecoin, KRW1, was launched by BDACS on the Avalanche blockchain, backed 1:1 with won held in escrow [4]

Core Insights - BDACS has launched KRW1, South Korea's first fully regulated won-backed stablecoin, in partnership with Woori Bank, following a successful proof of concept [1] - Each KRW1 token is fully collateralized by South Korean won held in escrow at Woori Bank, with real-time banking API integration ensuring transparent proof of reserves [2] - KRW1 operates on the Avalanche blockchain, recognized for its high-performance capabilities and reliability in public-sector applications [3] Company Developments - BDACS envisions KRW1 for various applications including remittances, payments, investments, and deposits, with plans for public-sector deployment in emergency relief disbursements [4] - The company aims to expand KRW1 to additional blockchains and explore collaborations with global stablecoin networks, including potential partnerships with USD-backed issuers like Circle and Tether [4] Industry Context - South Korean internet giant Kakao is also developing a won-pegged token through its Kaia blockchain, indicating a competitive landscape for stablecoins in the region [5] - Japan's JPYC is expected to receive regulatory approval for its yen-backed stablecoin, marking a significant advancement in stablecoin initiatives in Asia [5] - Ripple and SBI Holdings are preparing to launch RLUSD in Japan by early 2026, reflecting ongoing developments in the stablecoin sector [6] Regulatory Landscape - South Korean lawmakers are divided on stablecoin legislation, with both ruling and opposition parties advocating for full reserve backing and increased oversight by the Bank of Korea [7]

Core Insights - The KRW1 stablecoin, backed by the Korean Won and launched by BDACS, is the first of its kind in South Korea, supported by Woori Bank and built on the Avalanche blockchain [1][2][3] Group 1: Stablecoin Launch and Technical Viability - BDACS has completed a full proof of concept for the KRW1 stablecoin, confirming its technical viability and highlighting Avalanche's reliability and security as key factors in its selection [2] - The KRW1 stablecoin is backed 1:1 by Korean Won held in escrow at Woori Bank, ensuring its stability [2][6] Group 2: Strategic Positioning and Market Impact - BDACS aims to position KRW1 as a low-cost payment settlement solution for public-sector programs, potentially becoming a cornerstone for the South Korean digital asset market [5] - The stablecoin is designed for scalable public sector use, which could enhance Avalanche's presence in Asia [3][5] Group 3: Infrastructure and Integration - BDACS has developed a full-stack framework for the KRW1 stablecoin, which includes issuance, management, and transaction verification, along with real-time API integration with Woori Bank for instant proof of reserves [6] - The integration of Avalanche with banks and institutions has facilitated the launch of KRW1, emphasizing the infrastructure's suitability for real-world applications [3][6] Group 4: Current Status and Future Outlook - Currently, the KRW1 stablecoin is in a pilot phase and has not yet entered public circulation, marking a significant step toward regulated, bank-integrated digital money in Korea [7] - The launch of KRW1 coincides with a broader trend of stablecoin activity in South Korea's financial sector, indicating a growing interest in digital assets [8]