Korean BDACS launches the first KRW-backed stablecoin KRW1 on Avalanche

ChainCatcher news, according to Cointelegraph, South Korean crypto asset custodian BDACS has launched the first KRW-backed stablecoin KRW1 on the Avalanche blockchain after successfully passing the proof of concept. This stablecoin is fully collateralized by Korean won held at Woori Bank.