IQ and Frax have launched KRWQ, a new stablecoin pegged to the South Korean won (KRW), marking a major step towards wider adoption of local currency alternatives in the stablecoin space. This innovative coin is listed on Aerodrome exchange under the KRWQ/USDC trading pair and leverages Coinbase’s Ethereum Layer-2 network Base for its technical foundation. KRWQ boasts multi-blockchain compatibility thanks to IQ and Frax’s integration of Omnichain Fungible Token (OFT) standard and Stargate bridge, allowing it to be traded across various blockchains besides Base. This initiative addresses a key market gap by providing a stablecoin alternative anchored to the South Korean won.