KRWQ (KRWQ) stablecoin analytics
Answer First
What is KRWQ?
KRWQ is a Korean won stablecoin backed by issuer-reported USDC and frxUSD reserves, with institutional minting and redemption. The static profile records its Korean Won peg mechanism as: Centralized issuance against a 100% reserve. Mint and redemption are gated to KYC-verified institutional counterparties (exchanges, market makers, OTC desks).
Is KRWQ safe?
KRWQ holds a C Safety Score grade (55/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says KRWQ uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Real-Time PoR from KRWQ custodian-assets API with observable token balances; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
KRWQ (KRWQ) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Korean Won.
AI summary / Updated Sep 7, 2026
KRWQ is the first stablecoin pegged 1:1 to the South Korean won, launched October 2025 by IQ in partnership with Frax, with KYC-gated institutional access and a reserve that still sits in dollar stablecoins rather than the Korean government bonds it targets. It uses LayerZero's Omnichain Fungible Token (OFT) standard with Ethereum as the canonical mint chain and Base as the primary bridged destination, sharing unified supply across deployments.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- Issuer-reported USDC and frxUSD custodian reserves, plus USDC in a Base treasury. The October 1, 2026 source reports these three stablecoin positions and no Korean Treasury Bond holdings. Pinned Ethereum reads verify custodian token bindings and Safe ownership; cross-chain circulating-liability reconciliation remains unverified.
- Peg Mechanism
- Centralized issuance against a 100% reserve. Mint and redemption are gated to KYC-verified institutional counterparties (exchanges, market makers, OTC desks). Ethereum is the canonical mint chain; Base and other destinations share unified supply via LayerZero OFT v2. KRWQ is not offered to South Korean residents pending domestic stablecoin legislation under the Korean National Assembly.
- Jurisdiction
- South Korea / Financial Services Commission (FSC) / Unlicensed; designed for forthcoming Korean stablecoin legislation
- Proof Of Reserves
- Real-Time PoR by KRWQ custodian-assets API with observable token balances Reserve source
Next Actions
Exact bot target: /subscribe dews,depeg,safety krwq-iq
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
KRWQ quick answers
What is KRWQ?
KRWQ is a Korean won stablecoin backed by issuer-reported USDC and frxUSD reserves, with institutional minting and redemption. The static profile records its Korean Won peg mechanism as: Centralized issuance against a 100% reserve. Mint and redemption are gated to KYC-verified institutional counterparties (exchanges, market makers, OTC desks).
Is KRWQ safe?
KRWQ holds a C Safety Score grade (55/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says KRWQ uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Real-Time PoR from KRWQ custodian-assets API with observable token balances; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs KRWQ?
Pharos classifies KRWQ backing as Real-World Asset Backed. Collateral, per the static profile: Issuer-reported USDC and frxUSD custodian reserves, plus USDC in a Base treasury. The October 1, 2026 source reports these three stablecoin positions and no Korean Treasury Bond holdings. Reserve evidence: Real-Time PoR from KRWQ custodian-assets API with observable token balances.
Can KRWQ be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for KRWQ, when applicable, appear in the dossier below.
