KRW1 Stablecoin Partners with Rain for Global Expansion

KRW1, Korea's first won-backed stablecoin, is expanding its reach globally through an integration with Rain, a stablecoin payments provider. This collaboration will enable businesses to accept cards issued in Korean won that can be used at over 175 million Visa merchant outlets worldwide.

The integration between KRW1 and Rain will allow users to make international transactions without the need for currency conversion beforehand. The transaction process will maintain the currency denomination in Korean won, providing a seamless experience for users.

KRW1 was launched by South Korean digital asset custodian BDACS in partnership with Woori Bank. The stablecoin is pegged 1:1 to the South Korean won and has reserves backing up the circulating tokens.