What is the BDACS and Rain partnership about?

BDACS, a digital asset infrastructure company, has partnered with global stablecoin payment infrastructure firm Rain to connect KRW1, a Korean won stablecoin, to the Visa card payment network worldwide. BDACS handles KRW1 issuance and custody, while Rain manages Visa card issuance, global merchant settlement and payment infrastructure.

KRW1 is a regulation-compliant stablecoin backed by Korean won. It maintains 100% of its reserves in deposited Korean won and undergoes independent reserve verification on a regular basis. It is issued and custodied by BDACS.

Where can KRW1 be used for payments?

KRW1 can be used for instant payments at more than 175 million Visa merchant locations across 200 countries and territories.

Do users need to pre-fund or manually convert currency before paying with KRW1?

No. Cardholders pay exactly as they would with any existing Visa card. There is no pre-funding, no manual currency conversion and no need to swap into another stablecoin. Rain handles on-chain settlement with the card network in the background.

What use cases does this partnership enable?

The card infrastructure integration allows card programs across Asia Pacific, North America and Europe. Expected use cases include outbound spending such as overseas travel and study abroad, global settlement for creators in content and gaming, and travel and expense programs for Korean companies operating overseas subsidiaries.

How are foreign exchange reporting and taxation handled?

Foreign exchange reporting and tax treatment for stablecoin-based overseas card payments are still being addressed through ongoing legislation in Korea. BDACS plans to expand the scope of its collaboration with Rain in stages, in line with the development of the Foreign Exchange Transactions Act and related frameworks.

BDACS-Rain, making KRW1 spendable anywhere Visa is accepted.

BDACS Partners with Rain to Bring the KRW1 Stablecoin to the Global Visa Network

Users will be able to complete card transactions backed by the KRW1 stablecoin at over 175 million merchants accepting Visa across 200+ countries.
BDACS issues and custodies KRW1, while Rain manages Visa card issuance and network settlement infrastructure.

BDACS-Rain Partnership

South Korean digital asset firm BDACS and Rain, the enterprise-grade infrastructure for stablecoin payments, have partnered to make the KRW1 stablecoin usable for real-world purchases anywhere Visa is accepted.

This collaboration will allow users to power stablecoin card purchases with KRW1 and use that card at Visa-accepting merchants worldwide. BDACS issues and custodies KRW1, an institutional-grade and compliance-ready stablecoin fully backed by the Korean won, while Rain manages Visa card issuance, program management, and onchain settlement with Visa. KRW1 maintains a 100% deposited Korean won reserve and undergoes regular independent reserve attestations.

Cardholders transact exactly like existing Visa cardholders, needing no pre-funding, manual fiat off-ramps, or conversion into other stablecoins. Rain settles with the card network onchain in the background. This seamless process expands KRW1’s utility by bridging onchain transactions with off-chain finance.

Expanding KRW1 into Global Payments

This partnership broadens BDACS’s business footprint into the global payment sector. A single integration with Rain’s API allows clients to power card programs in multiple markets around the world. This partnership is intended to drive KRW1 adoption across various real-world use cases including overseas travel and study for students, global payouts for content and gaming creators, and corporate travel and expense programs for companies operating abroad.

This integration is fully aligned with current regulatory frameworks, including the Foreign Exchange Transactions Act.

Bringing On-chain Finance into Real Life

KRW1 is helping the won move as freely as any global currency and by utilizing Rain’s infrastructure, BDACS will ensure it has real-world utility.

“As the internationalization of the Korean won begins to materialize, the intersection of the KRW1 stablecoin infrastructure and Rain’s card infrastructure will continue to integrate on-chain finance into everyday life.” said Harry Ryoo, CEO of BDACS.

“Every market is thinking about how to extend their currency’s reach to users around the world by using modern, global rails,” said Farooq Malik, co-founder and CEO of Rain. “KRW1 is helping the won move as freely as any global currency and by utilizing Rain’s infrastructure, BDACS will ensure it has real-world utility.”

About BDACS

BDACS is a leading digital asset infrastructure company providing a Prime Custody Solution for corporate and institutional clients. In the first half of 2026, BDACS surpassed 80 billion KRW in assets under custody (AUC), making it Korea’s largest digital asset custodian. The company demonstrates top-tier internal controls and security capabilities, having obtained SOC 1 and ISO 27001 certifications, and currently pursues SOC 2 certification. As outlined in the BDACS Institutional Digital Asset Custody and Governance Framework, BDACS issued the world’s first Korean won stablecoin, KRW1, and continuously expands its ecosystem with global mainnet partners including Ethereum, Avalanche, Circle Arc, Plume, Polygon, BNB Chain, and Aptos. BDACS also maintains strategic partnerships with major domestic and global financial and Web3 companies, including Woori Bank, Galaxy Digital, and Circle.