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 gained (KRW), has formally surpassed 1 billion gained 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 supplies the technical basis for scalable, asset-backed stablecoins, and KRWQ extends this mannequin to the Korean gained.
To allow interoperability, KRWQ makes use of LayerZero’s OFT (Omnichain Fungible Token) normal and Stargate bridge, permitting the stablecoin to maneuver seamlessly throughout blockchains with unified liquidity and zero-slippage transfers.
“Crossing one billion gained in buying and selling quantity so rapidly reveals the market’s want for a Korean gained stablecoin,” mentioned Navin Vethanayagam, Chief Mind of IQ. “With AERO emissions now dwell on Aerodrome, KRWQ is on observe to develop into the foundational KRW asset on Base and past.”
“Frax focuses on safe, scalable stablecoin infrastructure,” mentioned Sam Kazemian, Founder and CEO of Frax. “KRWQ’s early momentum reveals how new fiat-backed stablecoins can combine seamlessly with international DeFi liquidity whereas reflecting the identical ideas that energy frxUSD and the Frax ecosystem.”
“Surpassing ₩1B in quantity so rapidly not solely underscores the rising international curiosity in KRW stablecoins among the many Asian currencies, but in addition reveals how constructing on a number of chains can lead to fast outcomes,” mentioned 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 via 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. Right now, KRWQ is meant to be used in international 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 gained. Developed by IQ in partnership with Frax, KRWQ brings the Korean gained on chain as a safe, compliant, and scalable settlement layer for international 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 Chook, [email protected]
