- IQ said the Korean won-denominated stablecoin KRWQ is being deployed on the Solana network, allowing users to trade, hedge and manage capital using on-chain won liquidity.
- KRWQ plans to support a range of won-denominated trading services on Solana, including perpetual futures, on-chain foreign exchange markets, arbitrage and cross-margin trading between won and dollar stablecoins.
- IQ said it chose Solana for its low latency and liquidity, and is pursuing integration with Solana-based DEXs as well as uses in cross-border payments and artificial intelligence (AI)-based trading.
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KRWQ, a Korean won-denominated stablecoin, is launching on Solana.
The Block reported on May 13 that IQ, together with Frax, will deploy KRWQ on the Solana network. IQ said the won is a global currency with substantial trading volume in offshore derivatives markets, but access has been limited in crypto-native systems. KRWQ will let investors use on-chain won liquidity for trading, hedging and capital management.
The launch is expected to support a range of won-denominated trading services on Solana, including perpetual futures, on-chain foreign exchange markets, arbitrage and cross-margin trading between won and dollar stablecoins.
IQ chose Solana for its low latency and liquidity. “Solana has the performance and ecosystem needed to expand won liquidity on-chain,” Dave Shin, KRWQ’s chief operating officer, said.
IQ is also pursuing integration between KRWQ and Solana-based decentralized exchanges, or DEXs. The company said KRWQ could eventually be used for cross-border payments and artificial intelligence-based trading.
IQ previously launched KRWQ with Frax on Base, Coinbase’s layer-2 blockchain, in October 2025. In March 2026, it was listed on the spot and perpetual futures markets of EDX Markets.
