TL;DR
- KRWQ is the first multi-chain Korean won stablecoin, powered by LayerZero technology.
- Each token is fully backed 1:1 by the Korean won held through regulated partners.
- Initial liquidity was launched on Aerodrome within the Base ecosystem, supported by BrainDAO.
KRWQ has launched as the first multi-chain Korean won stablecoin, utilizing LayerZero’s technology. This digital asset represents a fully backed Korean won on blockchain networks. Each KRWQ token maintains a 1:1 reserve with Korean currency held through regulated financial partners.
The stablecoin operates across multiple blockchains through LayerZero’s OFT standard. This technical approach allows the token to function as a single unified asset on different networks. When moving between chains, the system burns tokens on the original chain and mints an equivalent amount on the destination chain.
KRWQ’s initial deployment includes a liquidity pool on Aerodrome within the Base ecosystem. This creates the first trading market for the Korean won stablecoin. BrainDAO is supporting this development by providing liquidity across Base and Ethereum networks.
Targeting International Markets and DeFi Integration
The project involves collaboration between several organizations. IQ developed the stablecoin in partnership with Frax, while LayerZero provides the cross-chain infrastructure. Sam Kazemian of Frax described the project as expanding stablecoin infrastructure to include Korean currency.
Only verified institutions can directly mint or redeem KRWQ tokens, including exchanges and market makers operating under compliance requirements. The development team is coordinating with upcoming Korean stablecoin legislation to maintain regulatory alignment.
The stablecoin currently targets international markets rather than domestic Korean users. This approach allows global institutions and decentralized finance protocols to access Korean won liquidity. The project represents the first commercial implementation of a Korean won stablecoin on public blockchains.
For developers, KRWQ provides a programmable representation of Korean currency for integration into applications. The token can transfer across more than 150 blockchains connected to the LayerZero network. This infrastructure enables movement of value between chains with minimal cost and no price slippage.
