Digital asset infrastructure company BDACS on Oct. 1 held the Korea Blockchain Week (KBW) 2026 side event Bridging Finance Onchain, jointly with Circle, Kyobo Life Insurance and SBI Holdings.

Officials from financial institutions in South Korea and abroad and the digital asset industry attended the event and discussed directions for developing stablecoin-based financial infrastructure.

Kyobo Life Insurance and Kyobo Securities presented response strategies to onchain transition from the perspective of traditional financial institutions. Startale Group introduced JPYSC, a yen stablecoin issued in a trust format by SBI Shinsei Trust Bank, and projects Startale is pursuing. BDACS presented directions for using a won stablecoin and demonstrated an onchain exchange process between the won stablecoin KRW1 and USDC in a testnet environment.

The demonstration exchanged and settled KRW1 and USDC using Circle’s institutional onchain foreign exchange program StableFX.

Kim Tak-jong (김탁종), a BDACS co-founder and chief strategy officer, stressed that a won stablecoin is meaningful not for replacing the domestic payments network that already works well, but for opening new areas that have been difficult with existing infrastructure.

Kim said that if related systems support it in the future, meaningful areas of use include AI agent-based micropayments, delivery-versus-payment (DvP) and collateral transactions for tokenised securities, and improving access to South Korea’s asset markets for global capital. He added that without won-based onchain infrastructure, related demand can only remain with dollar stablecoins. He said KRW1 is infrastructure that extends trust in the won onchain within South Korea’s institutional system.