Korea's KRW1 Won Stablecoin Goes Global via Rain on Avalanche

Korea's first won-backed stablecoin is moving beyond its home market. KRW1 is integrating into the global payments infrastructure of raincards, avax announced on Sept. 15, 2026, giving the tokenized won a path into international commerce with Avalanche running underneath.

The integration lets businesses issue won-denominated cards that can be spent at more than 175 million Visa merchant locations worldwide. KRW1 was launched by @BDACSKorea in partnership with Woori Bank, with its issuance infrastructure built on Avalanche.

The Korean won represents nearly $3 trillion in broad money, but it has historically remained largely within Korea's borders — a constraint the pairing of on-chain issuance and card rails is intended to address.

raincards is a stablecoin payments and card-issuing infrastructure company serving platforms, fintechs and institutions. Rain Liquidity offers the Avalanche Card, which the Avalanche Foundation announced as a partnership with Rain.

What to watch

The announcement extends a run of institutional activity tied to Avalanche, following the Avalanche Summit NYC sellout and Hanwha Investment & Securities saying earlier in September that it is building a tokenization platform on Avalanche. For KRW1, the next question is which issuers and merchants adopt won-denominated cards, and whether the model extends to other currencies that have stayed largely domestic.