South Korea’s KRW1 stablecoin taps LayerZero for cross-chain expansion

BDACS has selected LayerZero’s Omnichain Fungible Token standard for its KRW1 stablecoin, giving the won-backed asset a unified cross-chain system as the company seeks to expand its use outside South Korea. Summary BDACS has selected LayerZero’s OFT standard to support cross-chain transfers of its Korean won-backed KRW1 stablecoin. KRW1 will maintain a unified supply across connected networks, with tokens debited on the source chain and credited on the destination chain. KRW1 remains backed 1:1 by Korean won held at Woori Bank as BDACS expands the stablecoin across blockchain networks. LayerZero said its OFT standard has processed $280 billion in lifetime transfers across more than 170 blockchains. LayerZero said BDACS, South Korea’s largest digital asset custodian by assets under custody, chose its OFT standard after reviewing options for making KRW1 natively interoperable across multiple blockchains. @BDACSKorea has selected LayerZero's OFT standard to take KRW1, the first on-shore Korean won-backed stablecoin, cross-chain. KRW1 is now the first Korean won-backed stablecoin natively transferrable across major DeFi ecosystems https://t.co/sSErebmg31pic.twitter.com/LM4LDD8axF — LayerZero (@LayerZero_Core) September 8, 2026 KRW1 already operates across several networks, including Ethereum, Avalanche and Circle’s Arc. BDACS said the separate deployments created friction when moving the stablecoin between networks, limiting its distribution and utility. The new setup is designed to maintain one KRW1 supply across connected chains. When tokens move between networks, KRW1 will be debited on the source chain and credited on the destination chain, while LayerZero’s Stargate application will handle transfers for users. LayerZero gives KRW1 a unified cross-chain supply LayerZero’s OFT standard is already used for stablecoins including Tether’s USDT0, PayPal USD and Paxos-issued USDG. The company said OFT currently facilitates 87% of cross-chain transfer volume and has processed $280 billion in lifetime transfers across more than 170 blockchains. For BDACS, the structure replaces separate pools of KRW1 liquidity with a single supply distributed across connected networks. The issuer retains control over the token while gaining the ability to add new chains without creating isolated versions of the stablecoin. You might also like: Hanwha taps Avalanche for tokenized securities platform in South Korea A similar structure is used by USDT0. As crypto.news previously reported, the omnichain version of USDT uses LayerZero’s OFT standard to move dollar liquidity between supported blockchains without relying on separate bridge liquidity pools. USDT0 launched on Stellar on Sept. 2, extending the same infrastructure to the payments-focused network. LayerZero has used its interoperability infrastructure for other regulated digital money products. In July, the company partnered with Keeta to make tokenized bank deposits transferable across Ethereum, Solana, Base and the Keeta Network, with nine fiat currencies included in the planned rollout. PayPal has taken a similar route for its dollar stablecoin.