Based on research published by Asia Stablecoin Alliance on Four Pillars (ASA News #18, April 28, 2026)
IQ’s core thesis has long been that some of the most important onchain assets are not entirely new tokens, but blockchain-based representations of major real-world markets that already hold enormous value yet remain underserved by digital infrastructure.
The Korean won reflects that opportunity clearly. With more than $60 billion in daily NDF volume and over $40 billion in daily spot trading, offshore won markets represent one of the largest opportunities in global FX. Yet despite that scale, offshore won exposure has historically relied on legacy market structures, with no fully integrated, regulated onchain pathway combining
KRWQ is one proof point in IQ’s broader direction: that when major real-world financial markets are rebuilt onchain with the right regulatory pathways, reserve architecture, and infrastructure, new forms of institutional access can emerge.
Read the full research here: https://research.4pillars.io/en/research/whats-happening-in-korea-asa-news-18
