Injective announced a partnership with BDACS on October 20 to develop KRW1, a stablecoin backed 1:1 by South Korean won cash reserves held at a major Korean bank. The project aims to facilitate local-currency settlement for tokenized real-world assets, subject to regulatory approval for minting and redemption. According to Allium, global stablecoin supply reached $336 billion, while Injective cited $10 billion in net stablecoin outflows from South Korean exchanges over 18 consecutive months. Injective’s total value locked rose by more than $2 million in less than two weeks and its stablecoin market capitalization increased from $12 million to $17 million, but sustained KRW1 adoption would need to support demand for INJ before a $10 target could be considered.
Source: Read the original article
