Web3 infrastructure company IQ announced a partnership with FRAX to launch KRWQ, a stablecoin pegged to the Korean won (KRW). The stablecoin's issuance complies with South Korean stablecoin regulations and is primarily intended for payments and liquidity management in decentralized finance (DeFi). It will not be sold or promoted to individual investors within South Korea. Currently, KRWQ is listed on Coinbase's Ethereum Layer 2 network Base, and the decentralized exchange Aerodrome will simultaneously open a KRWQ-USDC trading pair and establish a liquidity pool. BrainDAO, which manages approximately $40 million in assets, stated that it will gradually increase liquidity supply based on market demand. LayerZero will also support cross-chain transfers of KRWQ and provide integrated liquidity through its OFT token standard and the Stargate bridging protocol. (Korea Economic Daily)