KRWQ, the most traded Korean won stablecoin, today announced its integration with FraxNet, Frax’s unified infrastructure for cross-chain stablecoin settlement. With KRWQ joining FraxNet, global investors and institutions gain an efficient KRW–USD settlement rail that leverages Frax’s GENIUS-compatible frxUSD stack for regulated, capital-efficient cross-currency flows.
-- KRWQ, the most traded Korean won stablecoin, today announced its integration with FraxNet, Frax’s unified infrastructure for cross-chain stablecoin settlement. With KRWQ joining FraxNet, global investors and institutions gain an efficient KRW–USD settlement rail that leverages Frax’s GENIUS-compatible frxUSD stack for regulated, capital-efficient cross-currency flows.
KRWQ was built by Frax and IQ. Frax’s stablecoin infrastructure, centered on frxUSD, includes backing from BlackRock’s BUIDL fund tokenized by Securitize, Superstate’s USTB fund, and other partners including Stripe, Bridge, and WisdomTree. IQ has built a market presence in Korea since its launch in Seoul in 2018 with listings by Upbit, Bithumb, and other leading exchanges. KRWQ builds on Frax’s stablecoin infrastructure and IQ’s presence in the market.
The expansion into FraxNet strengthens KRWQ’s position as the leading KRW stablecoin for global exchanges, DeFi platforms, and emerging AI-driven financial applications.
As part of this launch, KRWQ is now available on Ethereum in addition to Base, and will integrate with key Frax infrastructure including FraxNet routing and new KRWQ–frxUSD liquidity pools supported by Frax and IQ.
The first KRWQ–frxUSD liquidity pool has launched on Uniswap V4, providing deep on-chain FX liquidity and setting the foundation for future KRW–USD trading corridors supported by Frax and IQ.
FraxNet provides a unified system for managing and routing stablecoins across multiple chains. With KRWQ now integrated into FraxNet, users gain access to an efficient KRW–USD corridor built on the frxUSD infrastructure.
The KRWQ–frxUSD liquidity pool will become the primary on-chain FX market between the Korean won and USD stablecoins, creating deeper liquidity and enabling global KRW settlement across DeFi and exchange platforms.
“FraxNet was created to give institutions a compliant and capital-efficient framework for operating across DeFi and regulated financial infrastructure. KRWQ integrating into FraxNet expands this framework to the Korean won and shows how global currencies can participate in regulated stablecoin infrastructure. We’re excited to support KRWQ as it builds institutional-grade KRW rails on top of FraxNet,” said Sam Kazemian, Founder and CEO of Frax.
“Integrating KRWQ into FraxNet gives Korea its first true stablecoin settlement rail. Frax has built an institutional USD stack using regulated components and frxUSD as the on-chain interface. KRWQ can now route directly into that infrastructure. This creates a compliant KRW–USD corridor that finally reflects how global Korea has become across trade, culture, and digital commerce,” said Dave Shin, COO of KRWQ.
“KRWQ becoming part of FraxNet gives the Korean won a modern global settlement layer. Korea is already one of the largest markets in crypto and the top cultural exporter in Asia. With KRWQ live on Ethereum and fully integrated with the Frax ecosystem, the won now has stablecoin rails that match its global reach,” said Navin Vethanayagam, Chief Brain of IQ.
About Frax
Frax is building the first stablecoin operating system: combining frxUSD (GENIUS-aligned stablecoin), FraxNet (the fintech account layer), and Fraxtal (a high-performance L1)—to bring programmable, compliant digital dollars to the world. Learn more at Frax.com.
About the company: About KRWQ KRWQ is the first fiat-backed stablecoin pegged 1:1 to the Korean won. Developed by IQ in partnership with Frax, KRWQ brings the Korean won on chain as a secure, compliant, and scalable settlement layer for global markets. KRWQ is built on proven infrastructure with a controlled mint and redeem framework designed for exchanges and market makers. For more information, visit www.KRWQ.cash
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