BDACS links KRW1 stablecoin to Visa payment network via Rain partnership
- —BDACS issues and custodies the won-backed KRW1; Rain handles card issuance and settlement on the Visa network
- —KRW1 payments are available at Visa points in Asia-Pacific, North America, and Europe
- —No pre-funding or manual conversion required — settlement occurs on-chain on Rain's side
- —Scaling is limited: currency control and tax rules have not yet been adopted
Why it matters: The first major case of a won-backed stablecoin tied to a global card network signals stablecoins moving into real-world payments.
Source: Bloomingbit