KRWQ and First Digital Announce Strategic Cooperation to Expand Korean‑Won Stablecoin Access and Strengthen Multi‑Currency Settlement Options
KRWQ and First Digital have entered a strategic cooperation to broaden access to fully backed Korean‑won stablecoin infrastructure and enhance multi‑currency settlement options for institutional participants in global markets. The cooperation connects KRWQ, a fully backed, multichain KRW stablecoin developed by IQ and Frax, with First Digital’s established operational frameworks to support programmable, cross‑border value transfer and institutional workflows.
KRWQ enables seamless mobility across networks via LayerZero’s OFT standard, supporting efficient interoperability between KRW and USD‑denominated stablecoin ecosystems. With a transparency‑first design, KRWQ is developed in alignment with forthcoming Korean stablecoin legislation and is not marketed or offered to South Korean residents. Minting and redemption are limited to eligible KYC‑verified institutional counterparties such as exchanges, market makers, and integrated financial partners.
Within this cooperation, First Digital will focus on operational support and workflow integration for KRWQ, such as partner onboarding coordination, settlement‑process alignment, and multi‑currency routing enablement, helping institutional partners access transparent on‑chain pathways for treasury operations, cross‑border settlement, and programmable payment flows across jurisdictions and chain environments.
Both organizations remain committed to transparency, operational integrity, and adherence to applicable requirements as they expand access to KRW‑linked rails and support the growth of responsible, real‑world stablecoin use cases.
About First Digital
First Digital’s mission is to empower financial fluidity in a digital‑first world. This is achieved through open‑finance solutions delivered with a compliance‑first, high‑transparency approach, enabling the development of world‑class fintech and regtech products and services that support institutional‑grade digital asset workflows.
About KRWQ
KRWQ is a fully backed, multichain Korean‑won stablecoin developed by IQ and Frax. It publishes reserve transparency information, supports multichain settlement via LayerZero’s OFT standard, and is designed to align with forthcoming Korean stablecoin legislation while serving global institutional markets. KRWQ is not marketed or offered to South Korean residents; minting and redemption are restricted to KYC‑verified institutional counterparties.