May 29, 2026 – IQ has today announced that KRWQ, the first Korean won stablecoin, is now available on Fireblocks, an enterprise platform for secure digital asset custody, settlement, trading operations, and stablecoin payments, via Fireblocks’ support of the Base chain. KRWQ was created by IQ, with its cash flows and fees going to the IQ token, allowing holders to own a stake in the world’s first Korean won stablecoin. KRWQ is focused on the offshore Korean won NDF and spot markets.
KRWQ is now available to Fireblocks’ extensive network of over 2,400 fintechs, retail apps, PSPs, banks, exchanges, and institutional traders via self-listing on Base. Fireblocks is used by thousands of institutions globally, including BNY, Galaxy, Revolut, and Worldpay, and has secured more than $14 trillion in digital asset transactions across over 150+ blockchains.
KRWQ recently became the first non-USD stablecoin listed across both EDX Markets’ institutional spot trading venue and EDXM International’s perpetual futures exchange. EDX is backed by Charles Schwab, Citadel Securities, Fidelity Investments and Virtu Financial. The venue is built upon best practices from traditional financial markets, creating a streamlined institutional environment for trading, custody, and settlement involving KRWQ.
This significantly expands institutional access to Korean won-denominated digital assets as stablecoins increasingly become infrastructure for global FX, payments, and capital markets.
“KRWQ’s availability via Base on Fireblocks substantially expands the reach of KRWQ,” said Navin Vethanayagam, Chief Brain of IQ. “Exchanges, trading firms, payment companies, and financial institutions already operating on Fireblocks can now more seamlessly integrate Korean won liquidity into trading, treasury, and settlement operations.”
Institutions can now custody and transfer KRWQ on Fireblocks, reducing onboarding friction for firms seeking exposure to Korean won-denominated digital assets. Supported use cases include exchange settlement, market making, treasury management, cross-border payments, and onchain trading strategies.
“As institutions increasingly move toward stablecoin-based settlement infrastructure, access and interoperability become critical,” said Dave Shin, Chief Operating Officer at KRWQ. “KRWQ’s availability on Fireblocks via Base means institutional counterparties can integrate Korean won liquidity directly into their existing global trading and payment workflows.”
The Korean won ranks among the most actively traded currencies globally, yet remains underrepresented in digital asset markets. KRWQ’s growing institutional footprint, from trading to settlement infrastructure, is designed to close that gap and bring Korean won liquidity into the broader onchain financial system.
About KRWQ
KRWQ is the world’s first Korean won stablecoin and the first non-USD stablecoin listed across both spot and perpetual markets on EDX. Created by IQ with Frax serving as the stablecoin infrastructure partner, KRWQ is designed to bring Korean won liquidity onchain through transparent, interoperable, and institutional-grade stablecoin infrastructure.
About EDX Markets
EDX is a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse. EDX Markets, our flagship marketplace, is designed to emulate the world’s most sophisticated exchanges, with deep liquidity, firm prices and low trading costs. EDX has structured its business to minimize risk for its members while providing a diverse array of operational and capital efficiencies. Backed by some of the world’s leading trading and venture capital firms, EDX is actively developing new features and expanding its geographic presence to deliver trusted, liquid and efficient crypto trading experiences for all institutions. To learn more, visit edxmarkets.com.
Disclaimer: EDX Markets products are available only to institutions in the U.S. and certain other jurisdictions. This communication is directed solely at investment professionals with experience in matters relating to investments. Any investment activity to which it relates, including services or products described, is available only to such persons. Persons who do not have such professional experience may not rely on it.
About EDXM International
EDXM International is a fast-growing digital asset trading venue for institutional clients that leverages best practices from traditional financial markets on a purpose-built crypto platform. EDXM International’s robust liquidity environment, modern technology and nonconflicted business model are designed to meet the needs of both crypto-native firms and the world’s largest financial institutions. EDXM International is a subsidiary of EDX Markets Holding Company Inc.
Disclaimer:
EDXM International is not regulated by MAS and is different from the exempted entity EDXM Global Pte. Ltd.
EDXM International’s products and services are not available for persons or entities in the U.S., EU and U.K. and any marketing done is not directed at persons or entities based in the U.S., EU and U.K.
All services and products of EDXM International are only directed toward professional investors or accredited investors or expert investors with sophisticated understanding of underlying risks.
Media Contact:
KRWQ: press@krwq.cash
EDX: press@edxmarkets.com
