Первый стейблкоин, привязанный к корейской воне, запущен на платформе Base The First Stablecoin Pegged to the Korean Won Launched on the Base Platform

Companies IQ and Frax have introduced the KRWQ stablecoin, pegged to the South Korean won. This asset marks the first such token within the Layer 2 solution, Base, as reported by The Block.

The team has already listed the KRWQ-USDC pair on the decentralized exchange Aerodrome. The coin utilizes LayerZero’s Omnichain Fungible Token standard and the Stargate bridge for cross-chain transfers.

«KRWQ will fill a significant gap in the market. Currently, dollar-pegged stablecoins dominate, yet no reliable asset tied to the won has been launched on a large scale,» stated Navin Vethanāyakam, head of IQ.

At present, South Korean residents cannot utilize this stablecoin, as the country has not yet adopted legislation for such assets. The issuance and redemption of KRWQ are restricted to authorized partners, including exchanges, market makers, and institutional firms.

IQ aims to establish KRWQ as the first compliant stablecoin in Korea. The team is considering a bill being developed by local lawmakers and financial authorities.

Japanese startup JPYC has released the world’s first stablecoin pegged to the yen. This asset is fully backed by national savings and government bonds, according to Reuters.

The company plans to issue JPYC worth 10 trillion yen (approximately $66 billion) over the next three years and aims for widespread adoption beyond Japan. To attract users, the startup will not charge transaction fees. The primary revenue for JPYC is expected to come from interest on government bonds.

Project head Noritaka Okabe mentioned that they are open to partnerships to enhance «global compatibility.»

Former Bank of Japan employee Tomoyuki Shimoda believes that yen-based stablecoins will struggle to gain popularity compared to dollar-pegged assets. He estimates that it may take at least two to three years for JPYC to become widely adopted in Japan, even with major banks involved.

Deputy Governor of the Bank of Japan Riezō Himino noted that stablecoins could become crucial players in the global payment system and partially replace bank deposits. He urged global regulators to adapt to these new circumstances.

Recall that in October, media outlets reported that Japan’s three largest banks are preparing a joint issuance of stablecoins.