Injective and BDACS plan won settlement for tokenised assets

Injective and BDACS have signed a memorandum of understanding to develop KRW1 settlement for tokenised assets on Injective. The 20 October announcement targets Korean institutions and makes access to minting and redemption conditional on regulatory approval.[1]

The commercial aim is to let won-denominated assets trade and settle without routing payment through a dollar stablecoin. The companies plan to work with Korean financial institutions on issuance and will announce further developments as individual uses enter service.[1]

From a token balance to a bank balance

BDACS’s KRW1 whitepaper distinguishes circulation from direct redemption. Issuance and redemption require onboarding with BDACS, identity and anti-money-laundering checks, and an approved wallet. Fiat proceeds go to a bank account registered in advance. Holding tokens alone therefore does not confer direct access to the issuer’s redemption channel.[2]

Fiat minting and redemption follow banking business days, cut-offs and holidays. The whitepaper says proceeds are generally remitted within one banking business day, with same-day processing before the applicable cut-off. Fees depend on the client agreement.[2]

For a trading firm operating outside bank hours, moving tokens and replenishing a won bank balance remain separate operations. Won settlement can reduce a conversion step; any underlying asset’s foreign-currency exposure still depends on what that instrument represents.[1][2]

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