Avalanche (AVAX) is steadily expanding its international presence and now operates in Asia, gaining momentum in both Korea and Japan with new stablecoin payment solutions.
The South Korean custodian BDACS recently launched KRW1, the country’s first Korean won–backed stablecoin, fully collateralized with deposits at Woori Bank. The stablecoin is in its pilot phase after a successful proof of concept, putting Avalanche at the forefront of Korea’s digital asset integration.
Similarly, in Japan, Avalanche is collaborating with industry giants such as SMBC, one of the nation’s largest banks, and retail groups like Densan to develop stablecoin-powered payment systems.
The expansion of stablecoin utilities coincides with a surge in network activity on Avalanche. In August alone, decentralized exchange (DEX) volume surpassed $12 billion, marking an eightfold increase in just two months.
Real-world asset (RWA) tokenization on Avalanche has also exceeded $450 million, with institutions like Grove Finance and SkyBridge driving adoption.
DeFi protocols such as UNI, Pharaoh, Benqi, and LFJ are thriving, pushing Avalanche’s total value locked (TVL) above $2 billion. UNI, for example, has posted a 97% gain in the past month, reflecting growing user activity and liquidity across the network.
Currently, AVAX is trading near $33, up over 9.4% in the past 24 hours. The token recently broke above a key pivot at $31.05, supported by bullish technical indicators including an RSI of 68.44 and a positive MACD histogram.
Analysts suggest that a decisive breakout above $34.50 could propel AVAX toward its next resistance at $42.
Institutional adoption is also on the horizon. With four AVAX ETF filings awaiting regulatory approval, inflows from traditional finance could act as a major catalyst for price growth.
Combined with Asia’s growing stablecoin market and Avalanche’s thriving DeFi ecosystem, AVAX aims to become a leading Layer-1 blockchain prepared to challenge rivals in the next crypto bull cycle.
Cover image from ChatGPT, AVAXUSD chart from Tradingview
Also read: Bank of Canada Eyes Stablecoin Regulation
