[Seoul, 16 June 2026] – KRWQ, the world’s largest Korean Won stablecoin built by IQ and Frax, today announced its adoption of Chainlink, the industry-standard oracle platform, to bring enhanced transparency and regulatory readiness to the onchain Korean won FX market.
Through KRWQ’s adoption of Chainlink Proof of Reserve, KRWQ is the first Korean won-backed stablecoin to achieve automated reserve verification powered by Chainlink.
Transparency and reliability are critical for fiat-backed stablecoins. By adopting Chainlink Proof of Reserve, delivered via a KRWQ Chainlink Data Stream, KRWQ enhances transparency into the offchain reserves backing its Korean won stablecoin, accelerating its distribution across the onchain economy.
Reliable reserves verification is foundational to scaling liquidity for the world’s largest Korean won FX market across DeFi. Secure risk management infrastructure aligns the KRWQ ecosystem with the strict requirements of institutional participants, supporting broader utility and seamless integration of KRWQ into the onchain economy.
“I’m excited to see IQ’s KRWQ adopt Chainlink to unlock automated reserve verifications and regulatory readiness for the world’s largest onchain Korean won FX market. To accelerate adoption across onchain finance, stablecoins need to prove that they are backed by real offchain value, and Chainlink’s industry-standard oracle platform provides the secure data infrastructure needed to make KRWQ more transparent and ready for distribution across DeFi.” — Johann Eid, Chief Business Officer, Chainlink Labs.
“KRWQ is focused on making Korean won stablecoins more transparent, reliable, and useful across the onchain economy. By adopting Chainlink Proof of Reserve, we are providing users and developers with real-time, tamper-proof verification of KRWQ’s reserve backing, establishing the trust and risk management standards required for broader DeFi and institutional adoption. As the largest Korean won stablecoin on Solana, we are excited to work with Chainlink to support the growth of the world’s largest onchain Korean won FX market.” — Dave Shin, Chief Operation Officer, KRWQ.
About Chainlink
Chainlink is the industry-standard oracle platform bringing the capital markets onchain and the market leader powering the majority of DeFi. The Chainlink stack provides the essential data, interoperability, compliance, and privacy standards needed to power advanced blockchain use cases for institutional tokenized assets, lending, payments, stablecoins, and more. Since inventing decentralized oracle networks, Chainlink has enabled tens of trillions in transaction value and now secures the vast majority of DeFi.
Many of the world’s largest financial services institutions have also adopted Chainlink’s standards and infrastructure, including Swift, Euroclear, Mastercard, Fidelity International, UBS, S&P Dow Jones Indices, FTSE Russell, WisdomTree, ANZ, and top protocols such as Aave, Lido, GMX, and many others. Chainlink leverages a novel fee model where off-chain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve.
Learn more at: chain.link.
About KRWQ
KRWQ is the first fiat-backed stablecoin pegged 1:1 to the Korean Won, while cash flows and fees go to the IQ token, allowing anyone to own an early stake in the world’s first Korean Won stablecoin. 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.
KRWQ Media Contact: press@krwq.cash.
