IQ and Frax have partnered to launch KRWQ, a stablecoin based on the Base network.

On Thursday, IQ and Frax jointly announced the launch of KRWQ, a stablecoin pegged to the South Korean won (KRW). In a press release, the two companies stated that with the launch of the KRWQ-USDC trading pair on the Aerodrome platform, KRWQ becomes the first stablecoin pegged to the South Korean won on Coinbase's Ethereum Layer 2 network.