KRW1 Brings Korean Won to Global Payments via Visa Partnership

KRW1, a Korean won-backed stablecoin issued by BDACS on Avalanche, is now usable through Visa cards at over 175 million merchants across 200+ countries. This partnership with Rain will enable users to make card purchases without pre-funding or converting the stablecoin into another asset.

The introduction of KRW1 could bring new users and liquidity into the AVAX ecosystem, driving growth and adoption in global payments and DeFi on Avalanche. If this expansion occurs, it may act as a price catalyst for AVAX.

AVAX has recovered from its June support level around $6 and is currently aiming to hold at $7 in September. If buyers defend this level, the next upside targets are $10 and $15. However, if prices fall below $7, the setup could change, and selling pressure may push AVAX towards $4.