BDACS, the issuer of the KRW-denominated stablecoin KRW1 on Arc blockchain, announced that it has joined the Circle StableFX program and Circle Partner Stablecoins program. With this participation, BDACS expects to strengthen its role as the first issuer of a Korean won stablecoin within the Arc ecosystem and contribute to the development of global onchain foreign exchange (FX) infrastructure.
The global FX market, despite its scale, continues to rely on infrastructure characterized by fragmented trading structures, prefunded account requirements, and delayed settlement cycles. Arc, introduced by Circle, is a global Layer 1 blockchain designed to connect onchain settlement with real-world economic activity. It is designed to provide an environment that enables real-time payments and settlement and is currently in public testnet. BDACS issues KRW1 on Arc and will serve as a partner supporting KRW-based onchain payments, remittances, and liquidity provisioning.
StableFX, a newly announced service by Circle, is an institutional onchain FX program that utilizes stablecoins to support more efficient cross-currency settlement. The service aims to address structural inefficiencies in conventional FX markets through competitive pricing and reduced settlement risk enabled by onchain settlement. StableFX is currently operating on Arc testnet, with broader institutional access expected following the mainnet launch next year. Within StableFX, KRW1 will function as a source of KRW-denominated onchain FX liquidity, enabling global liquidity providers and enterprises to transact in Korean won in real time.
BDACS is also participating in Circle Partner Stablecoins, a global initiative supporting selected non-USD regional stablecoins within the Arc ecosystem. Participating issuers are connected to the Circle Payments Network and StableFX, allowing for interoperability with USDC and access to a global liquidity provider network. Through this, KRW1 is expected to be integrated into global payment, remittance, trade finance, and onchain financial workflows, expanding the international utility of the Korean won.
BDACS CEO Harry Ryoo stated, “KRW1 is establishing itself as a core Korean won stablecoin in the Arc ecosystem. Through participation in Circle StableFX and Circle Partner Stablecoins, KRW is positioned to play a more active role in global onchain financial and FX markets.”
BDACS plans to continue working with global enterprises, fintech firms, and financial institutions to build real-time, cross-border payment, remittance, and FX networks centered on KRW1. The company aims to contribute to the global expansion of the Korean won’s onchain footprint and to the advancement of Korea’s digital financial infrastructure.
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