BDACS is taking another step towards expanding its Korean won-backed stablecoin beyond South Korea by adopting LayerZero’s Omnichain Fungible Token, or OFT, standard.
The company said it selected the technology after reviewing different options for making KRW1 natively interoperable across multiple blockchains.
KRW1 is already available on several networks, including Ethereum, Avalanche and Circle’s Arc. However, having separate deployments on different blockchains can create problems when users want to move the stablecoin from one network to another. The new system is intended to solve that issue by maintaining one unified KRW1 supply across connected chains.
When KRW1 moves between networks, tokens will be debited on the source blockchain and credited on the destination blockchain. LayerZero’s Stargate application will handle the transfers for users.
This approach means BDACS does not have to maintain separate pools of KRW1 liquidity on every blockchain it supports. Instead, the same overall token supply can be distributed across connected networks. The model has already been used for other stablecoins, including Tether’s USDT0, PayPal USD and Paxos-issued USDG.
@BDACSKorea has selected LayerZero’s OFT standard to take KRW1, the first on-shore Korean won-backed stablecoin, cross-chain.
KRW1 is now the first Korean won-backed stablecoin natively transferrable across major DeFi ecosystems https://t.co/sSErebmg31 pic.twitter.com/LM4LDD8axF
— LayerZero (@LayerZero_Core) September 8, 2026
LayerZero says its OFT standard currently supports 87% of cross-chain transfer volume and has processed around $280 billion in transfers across more than 170 blockchains.
For BDACS, the attraction is straightforward: adding new blockchains should become easier without creating isolated versions of KRW1 on each network.
The company launched KRW1 in September 2025 following a proof of concept with Woori Bank. The stablecoin was initially introduced on Avalanche, with every token backed one-to-one by Korean won held at Woori Bank. The system also included an API connection for checking the reserves behind the stablecoin.
BDACS later expanded the project. In October 2025, it announced plans to issue KRW1 on Arc, Circle’s Layer 1 blockchain designed for stablecoins, tokenized assets and programmable finance.
A Polygon version followed in December. BDACS positioned that deployment for payments, remittances and institutional transactions. The company now wants KRW1 to have a broader international role.
BDACS CEO Harry Ryoo said the value of a Korean won stablecoin lies in its ability to scale globally. The company believes the LayerZero integration provides the technical foundation needed to expand KRW1’s use across multiple blockchain networks. The move comes as South Korea is still working on the rules governing stablecoins.
The Bank of Korea said in July that it supports a bank-led approach during the early stage of stablecoin issuance. The central bank has argued that bank consortiums should take the lead while lawmakers continue discussions around the Digital Asset Basic Act and stablecoin regulation.
At the same time, private companies are already experimenting with won-based digital money. Financial super app Toss signed an agreement with Optimism and Sunnyside Labs in July for a three-month programme examining won-linked stablecoin infrastructure. The work includes areas such as payment settlement, compliance and privacy.
Telecommunications company KT has also entered the sector through plans for a Token Factory and won stablecoin platform. Its proposed system is expected to support token issuance, billing and settlement, with infrastructure involving K Bank and BC Card.
South Korea’s Won Internationalization Roadmap, published in July 2026, also calls for changes to the Foreign Exchange Transactions Act to create a legal foundation for won-denominated stablecoins.
The roadmap includes plans for offshore won accounts and a 24-hour offshore won settlement network, with pilot work expected to continue into 2027. For KRW1, the expansion is happening while those regulatory discussions continue.
BDACS said KRW1 will remain fully backed one-to-one by Korean won held at Woori Bank as its blockchain coverage grows. The company also said its reserves are independently attested.
BDACS surpassed 80 billion won in assets under custody during the first half of 2026. It holds SOC 1 and ISO 27001 certifications and is pursuing SOC 2 certification. The company’s partners include Woori Bank, Galaxy Digital and Circle.
The wider trend is clear. Stablecoin issuers are increasingly looking beyond a single blockchain because users want to move digital money between networks without dealing with fragmented liquidity.
For BDACS, LayerZero’s technology could make KRW1 easier to distribute and use across the growing blockchain ecosystem. The bigger test will be whether demand for a Korean won stablecoin can also grow outside the country’s borders.
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