KRW1, the won-backed stablecoin issued by BDACS, is set to expand into real-world payments, following a new partnership with fintech platform Rain to enable transactions across Visa’s extensive network. This collaboration aims to link the KRW1 stablecoin directly with over 175 million Visa merchant locations worldwide, significantly broadening its practical use cases.
KRW1 steps into global payments ecosystem
BDACS has confirmed that Rain will supply the payment infrastructure required for this initiative. Rain specializes in connecting stablecoin balances with card-based payment systems, bridging digital assets with traditional merchant networks. BDACS will continue to handle KRW1’s issuance and custody operations. The companies have stated that users will be able to make purchases using KRW1 without first converting to another asset or stablecoin, facilitating seamless spending of Korean won-denominated funds abroad.
KRW1 originally launched on the Avalanche blockchain in September 2025 and is fully backed by reserves of Korean won held at Woori Bank. BDACS offers additional transparency by integrating banking APIs, allowing for verification of the stablecoin’s reserves.
Visa integration opens new markets for won-backed asset
Connecting KRW1 with Visa’s global merchant network extends the asset’s use far beyond crypto trading and decentralized finance applications. Users will be able to spend a stablecoin pegged to the Korean won while merchants receive payments through Visa’s familiar infrastructure, creating a streamlined bridge between digital assets and retail commerce.
Amid this trend, Visa disclosed that non-dollar stablecoin supply reached $1.2 billion by February 2026, marking roughly 90% growth compared to the previous year. This suggests growing demand for stablecoins beyond the US dollar, although KRW1’s specific transaction volumes have yet to be released.
While many traditional financial markets still depend on intricate broker systems, a transformation is underway. Wall Street is increasingly adopting Web3 models, with investors now turning to platforms such as 1stepSwap. This allows them to directly store assets—including shares in leading US companies, gold, and silver—in their crypto wallets. By tokenizing real-world assets and ensuring price efficiency in seconds, such services eliminate intermediaries from the process entirely.
Regulatory landscape and banking partnerships
KRW1’s integration into mainstream payment channels comes as regulators in South Korea focus on establishing clear guidelines for stablecoins. The Bank of Korea has flagged potential risks to monetary policy, foreign exchange stability, and the broader financial system. Authorities advocate for robust safeguards and a banking-centric approach to the issuance of any won-backed digital assets.
The partnership between BDACS and Woori Bank underlines this regulatory preference. Rather than relying solely on crypto-native collateral, KRW1 is secured with bank-held reserves and supported by an institutional framework. Market-wide rollout will be shaped by further regulatory developments as South Korea adjusts its rules for digital assets.
Cross-chain expansion and market activity
BDACS recently moved to expand KRW1’s interoperability by choosing LayerZero’s OFT (Omnichain Fungible Token) standard. With support for Ethereum, Avalanche, and Circle’s Arc, the stablecoin is expected to offer cross-chain functionality that reduces friction. LayerZero reports processing $280 billion in total transfers across more than 170 connected networks.
Despite these technological upgrades and partnerships, KRW1’s trading activity remains modest. According to CoinGecko, the stablecoin is currently priced near $0.00067715, with daily trading volumes around $837.87 and a circulating supply of 100 million tokens.
Visa reported that the total supply of non-dollar stablecoins reached $1.2 billion by February 2026, representing approximately 90% year-over-year growth. This reflects growing interest in stablecoins tied to local currencies.
