Binance KRW (BKRW) is a token issued by Binance Korea with a price pegged to the Korean Won at a 1:1 rate.
BKRW is issued in partnership with BxB, Inc. of South Korea and is 100% backed by the same amount of KRW in a bank account at all times.
BKRW is issued on Binance Chain as a BEP-2 token and is available on multiple exchanges like Binance.com and Binance.kr.
Binance KR itself uses Binance Cloud to directly cater towards Korean users, yet leverage core functionality of the Binance exchange, such as its matching engine and shared liquidity.