BDACS demonstrated a StableFX transaction swapping dollar stablecoin USDC for won-denominated KRW1 on Circle's institutional Arc testnet, highlighting a potential route for South Korean companies and institutions to use won liquidity within the Arc ecosystem. StableFX is Circle's foreign-exchange trading service. BDACS has said KRW1 and other won-backed stablecoins could reduce Korea's reliance on dollar stablecoins and address capital outflows from domestic exchanges. KRW1 is backed one-to-one by Korean won held at domestic banks and is intended for on-chain financial infrastructure, including tokenized securities and repo transactions. The global stablecoin market is worth about $300 billion, with dollar-based tokens accounting for 99.7% of the total. BDACS co-founder and chief strategy officer Kim Tak-jong said 47 trillion won ($33.9 billion) moved from domestic exchanges to overseas platforms in the first half of this year, while net stablecoin outflows in June exceeded 500 billion won ($361 million). He said won stablecoins could support AI-agent payments, simultaneous settlement of tokenized bonds and won, and faster access by overseas investors to Korean assets. BDACS previously described a KRW1-USDC foreign-exchange transaction as settling in two seconds on Circle's Arc blockchain. Kim called for regulation that balances innovation with trust and said BDACS intends to bring Korean standards on-chain rather than use KRW1 to bypass regulation.