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KRW1, issued by BDACS on Avalanche, will be usable through Visa across 200+ countries.
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KRW1 is fully backed by Korean won reserves and undergoes independent reserve attestations.
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Meanwhile, if AVAX holds a key $7 level, with $10 and $15 as upside targets and $4 as downside risk.
AVAX price could get a fresh catalyst as the Korean won moves onchain through KRW1, a won-backed stablecoin issued by BDACS on Avalanche. The partnership with Rain will make KRW1 usable through Visa cards at more than 175 million merchants across 200+ countries.
KRW1 Brings Korean Won To Global Payments
KRW1 is fully backed by Korean won, with BDACS issuing and holding custody of the stablecoin. The reserves maintain a 100% deposited Korean won backing and undergo regular independent reserve attestations.
AVAX Price Could Benefit From Stablecoin Growth
The bigger question is what this means for AVAX price. Stablecoins can bring new users into the crypto economy, whether they’re investing, making payments, or trading perpetuals.
The partnership also targets real-world use cases including overseas travel, student expenses, creator payouts, and corporate travel programs.
AVAX Price Has Recovered From Major Support
The technical setup adds another layer. AVAX has been rising since late June after finding support around $6, which aligned with the lower border of a multi-year falling wedge and acted as dynamic support.
Now, AVAX price needs to hold around $7 in September. If buyers defend that level, the next upside targets are $10 and $15.
But lose $7, and the setup changes quickly. Rising selling pressure could push AVAX token price toward $4 or even lower, leaving the Korean stablecoin development facing a much tougher market backdrop.
