BDACS: KRW1 stablecoin to link Korea with global capital and internationalize the won
- —Dollar stablecoins account for 99.7% of the $300 billion market
- —About 47 trillion won left Korean exchanges in the first half
- —Net stablecoin outflows from Korea topped 500 billion won in June
- —BDACS demonstrated a KRW1-to-USDC swap in 2 seconds via Circle's Arc
Why it matters: A won-backed stablecoin could bring liquidity back to Korean markets and accelerate passage of the Digital Asset Basic Act.
Source: Bloomingbit