Injective introduces KRW stablecoin KRW1 Injective announced signing an MOU with BDACS and plans to utilize KRW1, a Korean won stablecoin, in RWA trading and settlements going forward. What is KRW1? - Korean won stablecoin issued by domestic digital asset custodian BDACS with 1:1 backing - Aimed for 100%+ won cash deposit reserves to be deposited at Woori Bank - (Checked and currently at 101.95% overcollateralization per snapshot) - First introduced on Avalanche last year, expanded to Ethereum, Circle's Arc and adopted LayerZero's OFT standard Injective KRW1 adoption - Currently at MOU stage, KRW1 hasn't actually started circulating or being used for RWA settlements on Injective yet - Significant in that won stablecoin issuer is beginning direct cooperation with overseas L1 with RWA infrastructure - Injective previously conducted technology verification with Korean companies including POSCO International and LG CNS regarding trade receivables tokenization https://injective.com/zh/blog/bdacs #INJ #KOL
DeFi Briefing · October 21 (Wed) • Drift hacker sends ~$61 million to Tornado Cash — The hacker wallet from Drift's ~$295 million exploit on 4/1 went quiet for two months then moved 25,700 ETH to mixer. Still holding ~81,454 ETH (~$194 million) so additional dumping is possible. https://cointelegraph.com/news/drift-exploiter-eth-tornado-cash • 1,404 Qubic wallets compromised (~$1.3-1.4 million) — SlowMist analysis shows web wallet used Math.random() for seed generation enabling key recovery. Network halted, ~87% of stolen funds frozen. At smaller scale, 165k USDT escaped BiFi lending but MEV bot c0ffeebabe returned most. https://cryptobriefing.com/slowmist-qubic-wallet-key-recovery-flaw/ • ARFC to deploy Aave V4 on Stripe-affiliated Tempo chain — Delegates flagging concerns over missing pathUSD SOFR-linked deposit yields and GHO growth targets from July temp check, plus audit, security, and loss-sharing issues. Snapshot opening soon. Separately, LlamaRisk proposed V3 supply cap reductions and USDT rate model changes. https://themerkle.com/defis-largest-lender-moves-toward-stripes-tempo-chain-with-new-aave-v4-proposal · https://governance.aave.com/t/risk-stewards-cap-reductions-and-usdt-irm-change-on-aave-v3-2026-10-19/25885 • Injective × BDACS MOU — Agreed to use KRW1 won stablecoin as settlement asset for Injective RWA markets. Domestic Digital Asset Basic Law targeted for confirmation by year-end. https://cointelegraph.com/news/injective-bdacs-korean-won-stablecoin-tokenized-assets • Kamino, fixed-rate loans collateralized by tokenized assets — Targeting Atonom RWA token AUTO at rates 5.3-6%. AUTO market grew $10M → $135M in 3 weeks.
🥷 Injective Injective signed an MOU with BDACS Pursuing introduction of won stablecoin KRW1 The plan is to enable RWA & tokenized assets trading and settlement on Injective in KRW1. KRW1 was already deployed on ETH & AVAX & ARC, but based on public materials on-chain DeFi actual usage appears limited. This announcement is news of partnership push, so actual implementation scope and service expansion will need to be seen according to domestic regulatory frameworks & system improvements 😄 Related tweet
Arc StableFX opens. Arc's institutional on-chain FX trading engine StableFX has opened. On StableFX, institutions settle PvP-style not only USDC, EURC but also AUDF, BRLA, GBPA and KRW among registered FX. However only institutions post-KYB/AML like banks, fintechs, remittance/payment companies can trade, and after RFQ quotes via API or Console, liquidity providers submit bids in auction format, and once selected, both parties deposit corresponding currency in escrow smart contract for trading. Subsequent trades settle on-chain at Arc. Questions remain about where liquidity providers come from, whether sufficient liquidity supply is possible, whether transactions have large amounts but small collections benefiting chain meaningfully (issuer probably sees meaning just from volume), and how retail should receive it, etc., various uncertainties remain, but feels somewhat like Canton vibes. Arc, save Hibachi. Official notice | StableFX
