- KRW1 positioned as a core currency in the global onchain FX ecosystem built on Arc
- BDACS expands the utility of its KRW-backed stablecoin through participation in Circle StableFX and Circle Partner Stablecoins
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.
nnnFrequently Asked Questions (FAQ)
nnnn- n
- What is Circle StableFX? n
- StableFX is Circle's institutional on-chain foreign exchange program that enables real-time FX trading and settlement using stablecoins, currently operating on Arc testnet. n
- How does BDACS participate in StableFX? n
- KRW1 serves as the Korean won-based on-chain FX liquidity provider within StableFX, enabling global institutions to trade Korean won in real-time. n
- What is the Circle Partner Stablecoins program? n
- A global partner program that selects and supports non-USD regional stablecoins within the Arc ecosystem, providing interoperability with Circle Payments Network and USDC. n
- What role does KRW1 play in global FX? n
- KRW1 has been adopted as a core currency in Arc's global on-chain FX ecosystem, integrating into global payments, remittances, trade, and on-chain financial flows. n
- What problems does StableFX solve? n
- The global FX market relies on fragmented trading structures, prefunded accounts, and delayed settlement. StableFX addresses these inefficiencies through on-chain real-time settlement. n
