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Korean custodian Bidex expands KRW stablecoin KRW1 to Polygon blockchain
BlockBeats News, December 4—according to News1, South Korean digital asset custody company Bidex announced the expansion and distribution of the Korean won stablecoin “KRW1” based on the Polygon blockchain. Bidex had previously announced plans to issue KRW1 on Circle’s blockchain platform Ark. In this issuance, Bidex plans to add a Polygon blockchain-based KRW1 on top of Ark, due to Polygon’s high transaction processing performance and low fees. KRW1 is a stablecoin collateralized by the Korean won, with its reserve funds coming from won deposits in domestic South Korean bank accounts.