Introduction of KRWQ, South Korea's First Won-Pegged Stablecoin
IQ, an AI-agent platform, and Frax, a decentralized finance protocol, have announced the launch of KRWQ, a stablecoin pegged to the South Korean won (KRW).
KRWQ is the first stablecoin backed by the Korean won to be available on Coinbase's Ethereum Layer 2 network, Base, and has debuted with a KRWQ/USDC trading pair on the Aerodrome decentralized exchange.
When it comes to stables in 🇰🇷 look for the Q.
Key Features of KRWQ
- KRWQ is the first multichain won-pegged stablecoin.
- It utilizes LayerZero's Omnichain Fungible Token (OFT) standard and the Stargate bridge for seamless transfers between blockchains.
The launch aims to fill a notable gap in the market dominated by U.S. stablecoins, with KRWQ's design enabling price stability, security, and reach across DeFi ecosystems.
Author's summary: KRWQ debuts as South Korea's first won-pegged stablecoin.
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