BDACS Picks LayerZero for KRW1 Stablecoin, Aims to Boost Global Scaling
BDACS, South Korea's largest digital asset custodian by assets under custody, has selected LayerZero's Omnichain Fungible Token (OFT) standard for its KRW1 stablecoin to enable transfers across blockchain networks.
The integration aims to reduce friction around cross-chain transfers and affected the stablecoin's distribution and utility. BDACS currently operates KRW1 on Ethereum, Avalanche, and Circle's Arc, but managing separate deployments has created issues with cross-chain transfers.
Under LayerZero's OFT standard, KRW1 will use a single cross-chain supply rather than separate versions of the stablecoin on individual networks. This structure is intended to reduce liquidity fragmentation as BDACS adds more blockchain networks and allows the issuer to manage a common KRW1 supply across connected networks.