South Korean stablecoin KRW1 is expanding into global card payments through a partnership between issuer BDACS and stablecoin infrastructure provider Rain. The integration will allow KRW1-backed cards to be used at more than 175 million merchants accepting Visa across over 200 countries, extending the won-denominated asset from blockchain settlement into conventional payment infrastructure.
According to BDACS’s official announcement, Rain will manage Visa card issuance, program management and on-chain settlement, while BDACS remains responsible for issuing and custodying KRW1. Businesses integrating Rain’s API can use KRW1 to power card programs across multiple markets without requiring cardholders to manually convert the stablecoin into fiat or another digital asset before spending.
KRW1 Moves Into Global Card Payments
KRW1 is fully backed by Korean won reserves and was initially issued on Avalanche, with collateral held at Woori Bank. BDACS says every KRW1 maintains a 1:1 reserve relationship with the Korean won, supported by banking integration and independent reserve attestations. The asset has since expanded beyond Avalanche to Ethereum and Circle Arc as BDACS develops a broader multichain distribution model.
The Rain integration changes how that digital won exposure can reach traditional merchant infrastructure. Cardholders can transact through the existing Visa acceptance network while Rain handles settlement in the background, reducing the need for a separate fiat off-ramp during individual purchases. BDACS says potential applications include corporate travel, overseas study, creator payouts and international expense programs.
The rollout also adds another institutional use case for Avalanche-linked financial infrastructure in South Korea. The network has already been selected for a tokenized securities platform being developed by Hanwha Investment & Securities, while KRW1 was originally issued and technically validated on Avalanche before its subsequent multichain expansion. Those developments place stablecoins and tokenized securities among the network’s growing institutional applications in the Korean market.
Korean Won Stablecoin Infrastructure Expands
KRW1’s payment expansion comes as South Korea’s stablecoin ecosystem attracts broader institutional interest. Global payment providers and domestic technology companies are exploring infrastructure that could connect won-denominated digital assets with existing financial networks, including stablecoin payment initiatives involving Circle, Toss and Kakao.
BDACS has also selected LayerZero’s OFT standard to expand KRW1 across additional blockchain networks. The strategy combines multichain settlement with access to conventional payment rails, giving the token potential utility beyond crypto-native transfers while preserving its won-denominated reserve model.
The Rain partnership does not mean KRW1 is automatically available to every Visa cardholder or jurisdiction. Actual availability will depend on the card programs launched by Rain clients and applicable regional requirements, while BDACS says the integration is designed to comply with existing foreign-exchange rules. The next measurable milestone will be the launch and usage of KRW1-backed card programs across the markets supported by Rain.