KRWQ, the first Korean won stablecoin, is now available on Fireblocks through the Base blockchain network. The move expands access to Korean won-denominated digital assets for institutional users across trading, payments, and settlement systems.
The stablecoin was created by IQ and is focused on offshore Korean won foreign exchange and spot markets. Through the integration, KRWQ can now reach Fireblocks’ network of more than 2,400 institutions, including banks, fintech firms, exchanges, payment providers, and trading companies.
Fireblocks is widely used across the digital asset industry for custody, settlement, and payment operations. The company says it has processed more than $14 trillion in global digital asset transactions.
$KRWQ is now available on @FireblocksHQ via @base.
Over 2,400 institutions — banks, exchanges, fintechs, payment companies — can now integrate Korean won liquidity directly into their existing workflows.
The Korean won is one of the world’s most traded currencies. It belongs…
— KRWQ.cash (@KrwqCash) May 29, 2026
Fireblocks integration opens wider access to KRWQ
The new integration allows institutional firms already using Fireblocks to custody, transfer, and settle KRWQ through Base without needing separate systems or onboarding steps.
The setup is expected to make Korean won liquidity easier to access for exchanges, trading firms, payment companies, and financial institutions already active in digital assets.
Supported use cases include exchange settlement, treasury management, market making, cross-border payments, and on-chain trading strategies.
Why are institutions showing interest in KRWQ?
Institutional demand for stablecoins is growing as more firms are more interested in blockchain-based payments, settlement, and foreign exchange markets.
KRWQ recently became the first non-US dollar stablecoin listed on both EDX Markets’ institutional spot exchange and EDXM International’s perpetual futures platform. EDX is backed by firms including Charles Schwab, Citadel Securities, Fidelity Investments, and Virtu Financial.
The expansion into Fireblocks adds another major infrastructure layer for institutions looking to access Korean won-denominated digital assets.
Korean won stablecoin is gaining attention in digital asset markets
The Korean won is among the most traded currencies globally, but it remains less represented in crypto markets compared with dollar-backed stablecoins.
IQ says KRWQ is designed to bring on-chain Korean won liquidity through transparent, institution-focused infrastructure.
As stablecoins continue growing beyond crypto trading into payments and settlement, non-dollar stablecoins like KRWQ are beginning to play a larger role in global digital finance.
Meanwhile, KRWQ surpassed ₩1 billion in total trading volume just two weeks after its launch. Created by IQ in collaboration with Frax, the stablecoin’s quick uptake coincides with the start of AERO emissions on Aerodrome, which have strengthened incentives for the KRWQ-USDC pool on the Base network and helped deepen liquidity across chains.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights.
“Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytical tools”.
