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KRWQ Stablecoin Expands to Solana Network

On May 13, The Block reported that the KRWQ stablecoin, pegged to the South Korean won, has announced its expansion to the Solana network, aiming to support on-chain liquidity in won. KRWQ was created in collaboration between IQ Company and Frax, and the team stated that this deployment will make it a core settlement asset for won liquidity on Solana. KRWQ will support various trading applications denominated in won on Solana, including perpetual futures, on-chain foreign exchange markets, arbitrage strategies, cross-margin trading between won and US dollar stablecoins, as well as institutional and algorithmic trading systems.

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