TL;DR:
- KRWQ, the stablecoin pegged to the South Korean won, expands to Solana to strengthen onchain liquidity in KRW.
- The stablecoin aims to unify around $40 billion in daily KRW spot volume with the offshore NDF market of approximately $60 billion.
- In March 2026, KRWQ was listed on spot and perpetual futures markets at EDX Markets, including its international platform EDXM.
KRWQ arrives on Solana with the goal of becoming the central settlement asset for operations denominated in South Korean won within the network. IQ, the company that developed the stablecoin in partnership with Frax, announced the integration today.
According to the team, the deployment will position KRWQ as base infrastructure for multiple KRW trading applications onchain, including perpetual futures, onchain foreign exchange markets, arbitrage strategies, cross-margin operations between KRW and USD stablecoins, and institutional and algorithmic systems.
The South Korean Won Enters the Onchain Market
The team highlighted that the South Korean won is a top-tier currency in global offshore derivatives markets, but that until now it has been practically inaccessible within native cryptocurrency trading systems.
This expansion aims to change that. Dave Shin, COO of KRWQ, noted that Solana was chosen for its low-latency execution and liquidity depth. “Solana provides the performance and ecosystem depth needed to scale KRW liquidity onchain,” Shin stated. “We’re seeing clear demand for non-USD-denominated trading pairs, particularly in derivatives.”
KRWQ launched in October 2025 as the first stablecoin pegged to the South Korean won on the Base L2. In March 2026, it was listed on the spot and perpetual futures markets of EDX Markets, including the launch of KRW perpetual futures on EDXM International. Since then, the project has continued scaling and targeting integrations within the network’s decentralized exchange ecosystem and AI-powered trading systems.
KRWQ Still Awaits a Proper Regulatory Framework
South Korea is advancing the development of stablecoin regulations as part of the Digital Asset Basic Act, legislation that is still being drafted. KRWQ is not currently marketed or offered to South Korean investors. The project operates facing international institutional and onchain markets, building what the team describes as the foundation for a global, around-the-clock Korean won market.
