PANews reported on October 30th that, according to The Block, IQ and Frax jointly announced on Thursday the launch of KRWQ, a stablecoin pegged to the Korean Won (KRW). In a press release, the two companies stated that with the launch of the KRWQ-USDC trading pair on the Aerodrome platform, KRWQ becomes the first stablecoin pegged to the Korean Won on Coinbase's Ethereum Layer 2 network. KRWQ is also the first multi-chain token pegged to the Korean Won, adopting LayerZero's full-chain fungible token (OFT) standard and leveraging the Stargate cross-chain bridge to enable token transfers across multiple blockchains. IQ announced that it will draw on Frax's expertise in regulatory compliance, particularly its experience with frxUSD, in the design of KRWQ to support institutional adoption and due diligence. Meanwhile, due to the ongoing efforts in South Korea to establish basic rules for stablecoins, KRWQ has not yet been marketed or offered to South Korean residents. The minting and redemption of this stablecoin are also limited to eligible counterparties such as exchanges, market makers, and institutional partners.PANews reported on October 30th that, according to The Block, IQ and Frax jointly announced on Thursday the launch of KRWQ, a stablecoin pegged to the Korean Won (KRW). In a press release, the two companies stated that with the launch of the KRWQ-USDC trading pair on the Aerodrome platform, KRWQ becomes the first stablecoin pegged to the Korean Won on Coinbase's Ethereum Layer 2 network. KRWQ is also the first multi-chain token pegged to the Korean Won, adopting LayerZero's full-chain fungible token (OFT) standard and leveraging the Stargate cross-chain bridge to enable token transfers across multiple blockchains. IQ announced that it will draw on Frax's expertise in regulatory compliance, particularly its experience with frxUSD, in the design of KRWQ to support institutional adoption and due diligence. Meanwhile, due to the ongoing efforts in South Korea to establish basic rules for stablecoins, KRWQ has not yet been marketed or offered to South Korean residents. The minting and redemption of this stablecoin are also limited to eligible counterparties such as exchanges, market makers, and institutional partners.
IQ and Frax have partnered to launch KRWQ, a stablecoin based on the Base network.
2025/10/30 11:47
PANews reported on October 30th that, according to The Block, IQ and Frax jointly announced on Thursday the launch of KRWQ, a stablecoin pegged to the Korean Won (KRW). In a press release, the two companies stated that with the launch of the KRWQ-USDC trading pair on the Aerodrome platform, KRWQ becomes the first stablecoin pegged to the Korean Won on Coinbase's Ethereum Layer 2 network. KRWQ is also the first multi-chain token pegged to the Korean Won, adopting LayerZero's full-chain fungible token (OFT) standard and leveraging the Stargate cross-chain bridge to enable token transfers across multiple blockchains. IQ announced that it will draw on Frax's expertise in regulatory compliance, particularly its experience with frxUSD, in the design of KRWQ to support institutional adoption and due diligence. Meanwhile, due to the ongoing efforts in South Korea to establish basic rules for stablecoins, KRWQ has not yet been marketed or offered to South Korean residents. The minting and redemption of this stablecoin are also limited to eligible counterparties such as exchanges, market makers, and institutional partners.
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The crypto market showed renewed optimism this week as global risk appetite improved. Bitcoin climbed above 115 000 USD and Ethereum approached 4 200 USD after easing US-China trade tensions and growing expectations of another Federal Reserve rate cut. The total market capitalisation returned to around 4 trillion USD, with altcoins also moving higher.
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The market remains in a consolidation phase, with regulation and geopolitics now having stronger influence than pure price momentum. The latest US-China trade thaw and expectations of easier monetary policy could provide short-term support, but political decisions are likely to remain the key driver.
Stay tuned — next week will bring new data on ETF flows, US inflation, and further regulatory developments that could set the tone for November.
📊 Crypto News of the Week (Oct 23–30, 2025) 📉 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story
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