Summary
- IQ said it is launching KRWQ with Frax on the Solana network.
- KRWQ plans to support perpetual futures, on-chain foreign exchange markets, arbitrage, and cross-margin trading between won and dollar stablecoins.
- IQ said it can expand won liquidity on-chain through integration with Solana DEXs, cross-border payments, and AI-based trading.
Forecast Trend Report by Period
KRWQ, a won-pegged stablecoin, is launching on Solana.
The Block reported on May 13 that IQ said it is deploying KRWQ on the Solana network with Frax. The company said the Korean won has long been a globally traded currency in offshore derivatives markets, but has remained less accessible in crypto-native systems. KRWQ will allow investors to use won liquidity on-chain for trading, hedging and capital management.
Following the launch, KRWQ plans to support a range of won-denominated services on Solana, including perpetual futures, on-chain foreign exchange markets, arbitrage and cross-margin trading between won and dollar stablecoins.
IQ said it chose Solana for its low latency and liquidity. "Solana has the performance and ecosystem needed to expand won liquidity on-chain," Dave Shin, KRWQ's chief operating officer, said.
IQ is also pursuing integration between KRWQ and Solana-based decentralized exchanges, or DEXs. It added that KRWQ could eventually be used for cross-border payments and AI-based trading.
IQ previously launched KRWQ with Frax on Base, Coinbase's layer-2 blockchain, in October 2025. In March, it was listed on EDX Markets' spot and perpetual futures markets.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
