KRW1 wallet

What is KRW1 (KRW1)?

A won on Ethereum. KRW1 is issued by BDACS, a regulated Korean digital asset custodian, and each unit is backed one-for-one by Korean won held in fiat reserves in a segregated bank account, with reserve verification and attestation built into how the issuer operates.

The unit size is the first practical adjustment. One KRW1 is one won, so ordinary amounts run into the hundreds of thousands or millions of tokens, and a balance line with six or seven digits in it is simply a modest holding rather than a decimal error. Anyone used to dollar-pegged tokens will misread this at a glance.

The second is the issuance model. KRW1 was built as a demonstration of what regulated won-denominated settlement looks like on a public chain, which means minting and redeeming happen through the issuer under its own compliance process rather than on an open market. Holding and transferring the token on Ethereum is permissionless in the ordinary ERC-20 sense and costs ETH in gas, but converting back to bank won runs through BDACS.

Worth separating from the noise: the ticker KRW also belongs to an unrelated DeFi token called KROWN. KRW1 is the won-backed one.

Supported networks in Tangem (3): Ethereum, Arc, Avalanche. An issuer-run token can change how it is distributed, allowlisted or upgraded over time, and through all of that your address is derived from a key created inside the card and never copied out of it, so the destination you registered stays the destination you control. Continuity like that is the main reason to keep a token like KRW1 on hardware you own outright.