BDACS has partnered with Rain to integrate the KRW1 stablecoin with Visa’s payment network, enabling users to spend the won-backed digital asset across over 175 million merchant locations. The initiative aims to allow purchases without converting KRW1 into another stablecoin. Rain will provide the payment infrastructure while BDACS handles issuance and custody. Launched on Avalanche in September 2025, KRW1 is fully backed by Korean won held at Woori Bank. Visa reported that non-dollar stablecoin supply reached $1.2 billion by February 2026, a 90% year-over-year increase. The partnership follows BDACS’s selection of LayerZero’s OFT standard for cross-chain functionality across Ethereum, Avalanche, and Circle’s Arc.
BDACS said Rain will provide payment infrastructure for the initiative. Rain connects stablecoins with card payments, while BDACS remains responsible for KRW1 issuance and custody. The companies stated users could make purchases without converting KRW1 into another stablecoin.
KRW1 launched on Avalanche in September 2025. BDACS said the stablecoin is fully backed by Korean won held at Woori Bank, with banking API integration supporting reserve verification. The infrastructure could make KRW1 useful beyond crypto applications by letting users spend a won-denominated digital asset while merchants continue using Visa’s acceptance network.
Visa reported that non-dollar stablecoin supply reached $1.2 billion by February 2026, rising about 90% year over year. KRW1’s payment volume remains unreported.
Regulation remains central to KRW1’s expansion. The Bank of Korea has warned that won-backed stablecoins could affect monetary policy, foreign exchange markets, financial stability and payments. It has advocated safeguards and a bank-centered approach to issuance.
The Rain partnership follows BDACS’s selection of LayerZero’s OFT standard for KRW1. BDACS said KRW1 already operates across Ethereum, Avalanche and Circle’s Arc, but cross-chain friction has limited its distribution and utility. LayerZero says its OFT infrastructure has processed $280 billion in lifetime transfers across more than 170 chains.
KRW1’s current market activity remains limited. Data shows the stablecoin at around $0.00067715, with 24-hour trading volume of about $838 and a total supply of 100 million tokens.
