Injective and South Korean custodian BDACS have outlined a proposed won-payment option for institutions handling tokenized assets on the network, using BDACS-issued KRW1 instead of an initial dollar-stablecoin conversion.
An Oct. 20 memorandum of understanding identifies KRW1 as the intended sole won settlement asset for planned real-world asset and tokenization activity on Injective. The proposed arrangement could allow institutions to settle in won without first converting to a dollar-backed stablecoin.
The memorandum says minting and redemption on Injective would be available only to institutional partners approved for the program, with both actions subject to regulatory approval. The memorandum specifies approval requirements for minting and redemption.
The memorandum presents the KRW1 use as a proposal. It does not establish that the settlement route is already operating.
