Midas Partners with Hyperithm and Axelar to Launch $mXRP for DeFi Yield

According to multiple reports, MoneyGram is rolling out a new mobile app in Colombia that lets users receive, hold and move money using USD-backed stablecoins, specifically USDC. Related Reading: Ethereum Giant The Ether Machine Aims For US Public Debut The service is being positioned as a hybrid: a stored-value USD balance that can be funded, […]

The post BDACS Launches KRW1 Stablecoin Backed by the Won appeared on BitcoinEthereumNews.com. BDACS Launches KRW1 Stablecoin Backed by South Korean Won Custody service provider BDACS has launched KRW1, a new stablecoin pegged 1:1 to the South Korean won (KRW). The regulated custodian focuses on institutional clients and offers services including crypto asset custody and transaction infrastructure supporting multiple blockchains. The KRW1 project recently completed its proof-of-concept (PoC) phase, with the stablecoin launching on the Avalanche blockchain. Each KRW1 token is fully backed by fiat currency, with reserves held at Woori Bank, one of South Korea’s largest financial institutions. Transparency and Platform Features BDACS emphasizes full transparency: holders can monitor reserves in real time via banking API integration, although no dedicated portal is currently available. According to the press release, “The KRW1 launch goes far beyond token issuance. BDACS has developed a comprehensive platform, including issuance and governance systems, as well as a user application supporting peer-to-peer transfers and transaction verification.” The stablecoin is positioned for global use, with potential expansion through new network integrations and collaborations with dollar-pegged stablecoins like USDC and USDT. BDACS also plans to integrate KRW1 into government initiatives, though negotiations or official involvement have not been confirmed. Current Status and Market Outlook KRW1 remains in the concept stage and is not yet publicly traded or available to retail consumers, as South Korea currently lacks a stablecoin framework. However, the launch is reportedly supported by the country’s new president, Lee Je-moon. In related news, Kakao is also reportedly considering a won-pegged stablecoin, highlighting growing interest in this emerging asset class. Source: https://coinpaper.com/11089/bdacs-launches-krw-1-stablecoin-backed-by-the-won

Recently, PANews interviewed Smokey The Bera, co-founder of Berachain, to unravel the background of the establishment of this anonymous project, Berachain's PoL mechanism, the latest developments, and answered widely concerned topics such as airdrop expectations and new opportunities in the DeFi field.