KRW1 to use LayerZero's OFT standard for native cross-chain transfers

  • BDACS selected LayerZero's OFT standard for native cross-chain KRW1 transfers.
  • KRW1 remains backed 1:1 by Korean won held at Woori Bank.
  • BDACS announced an August 2026 pilot for KRW1 offline retail payments.

KRW1, a Korean won-backed stablecoin issued by South Korean digital asset custodian BDACS, will use LayerZero's Omnichain Fungible Token standard to support native transfers across multiple blockchains. The structure will debit tokens on the source chain and credit them on the destination chain, maintaining a unified supply rather than separate liquidity pools. KRW1 is backed 1:1 by Korean won held at Woori Bank, with reserves independently attested. The token operates on Ethereum, Avalanche, Circle's Arc and Polygon, while BDACS has also partnered with Aptos Foundation to expand KRW1 into on-chain payments and commerce on a non-EVM blockchain. LayerZero said the OFT standard has processed $280 billion in lifetime transfers across more than 170 blockchains. The expansion comes as South Korea develops rules for won-denominated stablecoins under its Won Internationalization Roadmap.

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