KRWQ is now listed on EDX Markets — making it the first non-USD stablecoin available across both spot and perpetual futures on a fully integrated, institutional-grade trading platform.
Following the recent launch of KRWQ perpetual futures on EDXM International, the addition of regulated spot trading on EDX Markets creates a complete market structure for Korean won exposure onchain. For the first time, institutional participants can trade and hedge KRW using a stablecoin across both spot and derivatives within a single, compliant framework.
Why it matters
The Korean won is one of the most actively traded currencies in the world, with more than $60 billion in daily NDF volume and over $40 billion in daily spot trading. Yet until now, accessing KRW exposure has meant navigating fragmented offshore markets with limited transparency and capital efficiency.
KRWQ changes that. By operating within EDX's regulated framework in the United States, KRWQ gives institutions a compliant pathway to access, trade, and hedge Korean won exposure on-chain — with the efficiency and transparency that traditional FX infrastructure has lacked.
A new market structure for KRW
With spot liquidity on EDX Markets paired alongside perpetual futures on EDXM International, traders can now manage risk more efficiently — hedging perp positions with regulated spot, reducing reliance on fragmented offshore venues, and benefiting from tighter price discovery across a unified stack.
"For the first time, traders have a fully regulated way to trade and hedge Korean won exposure using a stablecoin across both spot and derivatives," said Dave Shin, COO of KRWQ. "This unlocks a more efficient alternative to the offshore NDF and spot markets."
"This marks an important step in expanding institutional access to non-USD digital assets within a regulated framework," said Tony Acuña-Rohter, CEO of EDX Markets. "By pairing spot liquidity on EDX Markets with perpetual futures on EDXM International, we're enabling more efficient price discovery and risk management for Korean won exposure that aligns with the standards institutional participants expect."
What's next
This listing positions KRWQ as the primary settlement layer for Korean won trading and the leading on-chain representation of KRW for institutional markets. As digital asset infrastructure continues to mature, KRWQ and EDX are building the foundation for a more open, efficient, and regulated global FX market — starting with the Korean won.