Injective has signed a memorandum of understanding with BDACS, the South Korean digital asset custodian, making KRW1 the exclusive Korean won settlement asset for real-world assets on its chain. Injective announced the deal on October 20, saying it is bringing the won onchain for its RWA ecosystem.
KRW1 is a stablecoin backed 1:1 by the Korean won, with reserves held at Woori Bank. Under the agreement, tokenized assets on Injective can settle in won rather than routing through dollar stablecoins.
Injective has processed more than $7.5 billion in RWA volume and now hosts 135 live onchain RWA markets. Its real-world asset perpetuals traded $215,481,996 in September, 2.25 times June's $95,583,706, across stocks, commodities, indices and FX pairs.
Dollar stablecoins on the chain are growing too. Injective's USDC supply hit a record $13.11 million on October 21, up 43.44% from $9.14 million a month earlier, and total stablecoin supply rose 23.45% over 30 days to $16.56 million.
More USDC is on the way. Initia is moving its USDC to Injective as Circle retires USDC on Noble, so new USDC arriving on Initia lands as Injective-based USDC. The Cosmos Hub voted on November 3 to move its community pool's 566,067 USDC into Circle's native USDC on Injective.
With KRW1 in place, Injective's RWA markets can settle in won as well as in dollars.