Plume Selects Korean Won for First Non-USD Stablecoin in Partnership with BDACS

Plume, the global real-world asset network, has taken a concrete step to make it easier for Korean institutions to participate in on-chain finance by adding a won-pegged stablecoin to its ecosystem. The stablecoin, KRW1, was issued by leading digital custody firm BDACS and is designed to let investors pay and receive returns directly in Korean won across Plume’s platform.

Plume, which bills itself as one of the largest RWA ecosystems in operation, says the move opens a “non-USD” doorway into tokenized assets for Korean investors. “Plume currently operates one of the world’s largest RWA ecosystems, with more than 280,000 RWA holders and $645 million in RWAs. By adding KRW1 as a payment and investment instrument, we are opening a new pathway, particularly for Korean institutional investors, to enter the RWA market using a non-USD currency,” said Teddy Pornprinya.

The KRW-denominated token was launched by BDACS in September 2025 and is fully backed by Korean-won deposits held in escrow at Woori Bank. BDACS completed a proof-of-concept that covered KRW deposits, token issuance, and on-chain verification, demonstrating both technical feasibility and operational stability, the companies said.

Expanding Access to Tokenized Real-World Assets

Plume’s choice of the Korean won as its first currency beyond the U.S. dollar is no accident: the platform pointed to Korea’s recent regulatory moves as a major factor. Amendments to the Capital Markets Act and the Electronic Securities Act last year introduced a tokenized securities framework that folded security tokens into the regulated financial system, creating what Plume describes as one of the more advanced RWA regulatory environments in Asia.

“Korea is a market where regulation is relatively clear yet supportive of innovation. Major financial institutions are expanding investments related to RWAs and blockchain, making Korea a key strategic hub for Plume’s expansion in Asia,” Pornprinya added.

For its part, BDACS framed the integration as further proof of Plume’s institution-ready posture. “Plume has established itself as an institution-ready RWA platform through embedded compliance and full EVM compatibility,” said Hong-yeol Ryu. “The integration of KRW1 further strengthens its position as a regulation-aligned RWA infrastructure provider in Asia.”

Plume already provides access to assets from major global managers, including Apollo Global Management, WisdomTree and BlackOpal, spanning loans backed by real estate, private funds and government bonds. With KRW1, Korean investors can now invest and receive returns in won, a change that should reduce foreign-exchange friction and operational complexity and make on-chain RWAs more attractive to traditional institutional players.

Industry insiders say the move could encourage further on-chain issuance by Korean financial institutions and set the stage for additional local currency integrations across Asia. Plume has already signalled interest in expanding to currencies such as the Japanese yen and the Singapore dollar, while continuing to grow its flagship real-world yield protocol, Nest, and the broader infrastructure that supports issuers and institutions.

By introducing a domestic-currency stablecoin backed by bank deposits and embedding it within an established RWA marketplace, Plume and BDACS are betting that reducing the currency and settlement hurdles will draw more mainstream capital into tokenized real-world assets. For Korea’s institutional investors, that could mean a simpler, lower-cost path from traditional balance sheets to the on-chain markets shaping the next generation of capital markets.