KRWQ, launched by IQ in partnership with Frax, hits a key milestone
SEOUL, South Korea, Nov. 19, 2025 /PRNewswire/ — KRWQ, the primary fiat-backed and multichain stablecoin pegged 1:1 to the South Korean received (KRW), has formally surpassed 1 billion received in whole buying and selling quantity lower than two weeks after launch. The milestone coincides with the activation of AERO emissions on Aerodrome, increasing incentives for the KRWQ-USDC pool on Base and supporting deeper liquidity.
Developed by IQ in partnership with Frax, KRWQ combines IQ’s established presence within the Korean market with Frax’s confirmed stablecoin infrastructure. Frax’s upcoming FraxNet community offers the technical basis for scalable, asset-backed stablecoins, and KRWQ extends this mannequin to the Korean received.
To allow interoperability, KRWQ makes use of LayerZero’s OFT (Omnichain Fungible Token) commonplace and Stargate bridge, permitting the stablecoin to maneuver seamlessly throughout blockchains with unified liquidity and zero-slippage transfers.
“Crossing one billion received in buying and selling quantity so shortly exhibits the market’s want for a Korean received stablecoin,” stated Navin Vethanayagam, Chief Mind of IQ. “With AERO emissions now dwell on Aerodrome, KRWQ is on monitor to change into the foundational KRW asset on Base and past.”
“Frax focuses on safe, scalable stablecoin infrastructure,” stated Sam Kazemian, Founder and CEO of Frax. “KRWQ’s early momentum exhibits how new fiat-backed stablecoins can combine seamlessly with world DeFi liquidity whereas reflecting the identical ideas that energy frxUSD and the Frax ecosystem.”
“Surpassing ₩1B in quantity so shortly not solely underscores the rising world curiosity in KRW stablecoins among the many Asian currencies, but additionally exhibits how constructing on a number of chains can lead to instant outcomes,” stated Alex Lim, Head of APAC at LayerZero and Govt Director of the Asia Stablecoin Alliance. “KRWQ demonstrates how regional currencies can function seamlessly throughout ecosystems by way of interoperable, on-chain frameworks.”
Minting and redemption of KRWQ are restricted to Eligible KYC’d counterparties, together with exchanges, market makers, and built-in institutional companions. At the moment, KRWQ is meant to be used in world DeFi markets and isn’t being marketed or supplied to Korean residents.
About KRWQ
KRWQ is the primary fiat-backed stablecoin pegged 1:1 to the Korean received. Developed by IQ in partnership with Frax, KRWQ brings the Korean received on chain as a safe, compliant, and scalable settlement layer for world markets. KRWQ is constructed on confirmed infrastructure with a managed mint and redeem framework designed for exchanges and market makers.
For extra data, go to www.KRWQ.money.
Media contact: Gary Hen, [email protected]