Performances
RD Popularity Index
RD Growth Index
Comparison
Developer
Follow Updates
Follow Lists
People
About KRWQ.cash
KRWQ is a Korean won stablecoin issued by IQ with Frax, softly pegged one-to-one to the won and backed by short-term dollar assets and cash equivalents, with a live reserve ratio and on-chain minting and redemption. It addresses structural problems in the offshore won market, where institutions usually obtain won through non-deliverable forwards at high cost and slow settlement, and programmable won assets are scarce.
Technically it uses a cross-chain fungible token standard so it can move natively between chains, and reserve attestations are posted on-chain through an oracle for institutional audit. Integrations moved quickly in 2026: spot listing on EDX Markets on 14 April, expansion to Solana in May, Fireblocks custody on 29 May, Chainlink proof of reserve in June and Grow on 8 July. Korean stablecoin legislation is still under review, and the final compliance framework will shape where it can be issued and used.
KRWQ listed on EDX Markets' institutional spot and EDXM International perpetual platforms in March 2026, becoming the first non-USD stablecoin traded on both venues. It expanded to Solana on May 13 (after its Base debut and EDX listing) and joined Fireblocks via Base on May 29, reaching 2,400+ institutions such as banks, exchanges and payment firms. On June 16 it integrated Chainlink Proof of Reserve, the first Korean-won stablecoin to adopt real-time reserve verification at scale. Live supply stands at about 780.68M with a 116.7% reserve ratio.
The compliance-first strategy pursues multi-jurisdiction licenses and MSB/EMI fiat-settlement partners under Korea's emerging stablecoin law, deploys KRWQ across Base, Solana, Fraxtal, Polygon, Injective, Morph and Codex via LayerZero OFT and Chainlink oracles while preserving reserve parity, and deepens cross-border remittance, B2B settlement and institutional banking/DeFi integrations for eligible users outside Korea through licensed partners.
Navin Vethanayagam — Co-founder and Chief Brain of IQ; previously led community and press at Everipedia, a graduate of Ivey Business School.
Andy Cho — Co-founder and COO of IQ; oversees Korean market operations and compliance.
César Rodríguez — Co-founder and CTO of IQ.
Sam Kazemian — Co-founder; founder of IQ and Frax.
Dave Shin — COO; previously led business development at LayerZero, Klaytn, Immutable and Tezos.