South Korea’s BDACS to Launch KRW1 Stablecoin on Circle’s Arc Blockchain

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South Korean crypto custodian BDACS plans to issue a won-backed stablecoin, “KRW1,” on Circle’s newly launched blockchain Arc.

The Busan-based company signed a memorandum of understanding (MOU) with Circle to develop and deploy KRW1 on Arc, establishing what it called an “organic cooperative framework,” according to a Wednesday report by the Yonhap News Agency.

“This collaboration is a meaningful step forward for Korea’s innovation to reach the global stage,” said Ryu Hong-yeol, CEO of BDACS. “By deploying KRW1 on Circle’s Arc, we…



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South Korea’s BDACS to Launch KRW1 Stablecoin on Circle’s Arc Blockchain


South Korean crypto custodian BDACS plans to issue a won-backed stablecoin, “KRW1,” on Circle’s newly launched blockchain Arc.

The Busan-based company signed a memorandum of understanding (MOU) with Circle to develop and deploy KRW1 on Arc, establishing what it called an “organic cooperative framework,” according to a Wednesday report by the Yonhap News Agency.

“This collaboration is a meaningful step forward for Korea’s innovation to reach the global stage,” said Ryu Hong-yeol, CEO of BDACS. “By deploying KRW1 on Circle’s Arc, we…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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