[South Korea's BDACS Launches First Korean Won-Backed Stablecoin KRW1 on Avalanche] According to Cointelegraph, South Korean crypto asset custody service provider BDACS has launched the first Korean Won-backed stablecoin KRW1 on the Avalanche blockchain following the successful proof of concept. The stablecoin is fully collateralized by Korean Won deposited in Woori Bank.