Created by IQ in collaboration with Frax, KRWQ is the first tradeable multichain Korean won (KRW) stablecoin.
KRWQ launched with USDC liquidity through a KRWQ–USDC pair on Aerodrome, marking the first Korean won stablecoin to go live on Base. KRWQ is also the first multichain KRW stablecoin deployed through LayerZero's OFT standard and supported by their Stargate bridge.
Built on proven stablecoin infrastructure and backed by institutional expertise, KRWQ combines Frax’s technical foundation with IQ’s established presence in the Korean market. IQ, founded in Seoul in 2018, has developed a strong footprint in Korea with listings on Upbit, Bithumb, and other leading exchanges.
KRWQ follows the same transparency and compliance principles that underpin frxUSD, which draws support from funds such as BlackRock’s BUIDL, Superstate’s USTB, and WisdomTree’s tokenized treasury products.
KRWQ is the first native Korean won trading pair on decentralized exchanges, starting with USDC liquidity live on Aerodrome on Base. The KRWQ-USDC pair allows market makers and traders to settle transactions in KRW with low fees, unified liquidity, and 24/7 onchain availability.
KRWQ enables international visitors and offshore users to easily access and spend Korean won onchain without relying on traditional foreign exchange channels. Tourists can convert USDC or other stablecoins into KRWQ before arrival and use it for retail purchases, digital payments, or onchain services at transparent exchange rates. This improves convenience, reduces FX fees, and promotes the use of blockchain-based payments within Korea’s tourism economy.
KRWQ simplifies peer-to-peer and remittance payments by providing a stable, blockchain-based representation of the Korean won. Users can send value globally in seconds with full transparency, low fees, and reliable redemption backed by high-quality reserves.
Merchants and payment providers can integrate KRWQ to accept payments in Korean won across global platforms. Transactions clear instantly onchain, reducing settlement costs while enabling global customers to transact directly in KRW.
This site contains content and information, including links to other sites and resources, that was prepared by third parties ("Third Party Content") who are not affiliated with Circle or any of its affiliates (collectively "Circle"). Circle makes no representations on the accuracy, suitability, or validity of Third Party Content. As such, Circle is neither responsible nor liable for any Third Party Content, including any errors, omissions, or delays, or for any actions taken in reliance upon any Thirds Party Content. Reference to any specific company, product, service, or website of any third party does not constitute an implied or express endorsement, recommendation, favoring or validation by Circle. All content provided is for educational and informational purposes only. Circle shall not be liable for any damage or loss relating to use of, or reliance upon, the Third Party Content.