BDACS, the largest digital asset custodian in South Korea, has selected LayerZero's OFT standard as its interoperability solution for KRW1, the first on-shore Korean won-backed stablecoin. To build with it, visit Developers or reach out to our team.
KRW1, the first Korean won-backed stablecoin, already exists as a multi-chain asset on Ethereum, Avalanche, and Circle’s Arc. But for BDACS, the issuer of KRW1, the distribution and utility of KRW1 has been limited by friction related to its cross-chain interoperability infrastructure.
After a rigorous review of options to bring KRW1 natively multi-chain, BDACS chose LayerZero's OFT (Omnichain Fungible Token) standard.
A standard already tested at scale
The OFT standard is the same standard Tether uses for USDT0, PayPal for PYUSD, and Paxos for USDG. It now facilitates 87% of all cross-chain volume transferred and has transferred $280 billion in lifetime transfers across 170+ chains. BDACS's decision puts KRW1 on infrastructure other major stablecoin issuers already put through rigorous diligence before adopting.
The OFT standard is designed with institutional and enterprise-grade issuers top of mind. It provides issuers with the customization and control they need to satisfy regulators and enterprise-grade security teams, while simultaneously lowering the operational burden to add the next incremental chain and manage the resulting supply fragmentation.
Under the OFT standard, when KRW1 moves across chains, it will now be debited on the source chain and credited on the destination chain. One KRW1 supply will exist across every connected network, instead of several disconnected instances competing for liquidity. Stargate, LayerZero's cross-chain transfer application, is what executes that debit-and-credit transfer for users moving KRW1.
Why the timing matters
Korea's Won Internationalization Roadmap, published in July 2026, commits to amending the Foreign Exchange Transactions Act to establish a legal basis for won-denominated stablecoins. Related measures, including offshore won accounts and a 24-hour offshore won settlement network piloting into 2027, build the institutional plumbing for the won to move outside Korea.
Cross-chain interoperability builds the circulation side of that plan. Each KRW1 unit that moves under the OFT standard extends won-denominated liquidity to any LayerZero-connected chain, without depending on one network's ecosystem for reach. Most bridged omnichain stablecoin volume today is denominated in dollars; this integration puts the won into that mix.
BDACS is the largest digital asset custodian in Korea by assets under custody, and the first company to issue a won-backed stablecoin. KRW1 stays fully reserved 1:1 with Korean won held at Woori Bank, with independent attestation of reserves, a compliance position that does not change as KRW1's network reach grows.
Harry Ryoo, CEO of BDACS said, "The value of a Korean won stablecoin lies in its global scalability." He added, "KRW1, the leading Korean won stablecoin, has established a technical foundation to expand beyond Korea into global markets by enabling more flexible use across multiple blockchains through the application of OFT. Building on this technical foundation, we will continue to expand the scope of KRW1's use going forward."
Start building
Developers integrating stablecoins across chains can start with LayerZero's OFT standard. Visit Developers or reach out to our team.
About BDACS
BDACS is a digital asset infrastructure company providing custody to institutional clients. In the first half of 2026, it surpassed 80 billion KRW in assets under custody, the largest total of any digital asset custodian in Korea. BDACS holds SOC 1 and ISO 27001 certifications and is pursuing SOC 2. It issued KRW1, the world's first Korean won stablecoin, and partners with Woori Bank, Galaxy Digital, and Circle.
About LayerZero
LayerZero is where finance and the internet converge. It makes any token or application compatible with every type of blockchain. From protocols to institutions, organizations use LayerZero to build, issue, and scale digital assets and products. It connects 170+ blockchains, processes millions of messages a year, and powers billions in value transfer. Trusted by PayPal USD, Ethena, Ondo Finance and more, LayerZero has become the standard for building on blockchains.