Korean Won Stablecoins Debut on EDX Markets

Traders can trade and hedge Korean won exposures using a local-currency stablecoin across both spot and derivatives markets, after KRWQ, launched its perp futures on EDXM International something, the firm claims, that marks the first time a non-USD stablecoin is available across a fully integrated trading stack spanning both spot and derivatives.

KRWQ is the first fiat-backed stablecoin pegged 1:1 to the Korean won, providing a blockchain-based alternative to the $100 billion-plus NDF and offshore KRW markets. KRWQ and EDX say they are targeting “one of the largest opportunities in global FX and crypto markets,” including more than $60 billion in daily volume in the Korean won NDF market and over $40 billion in daily Korean won spot trading.

By operating within EDX’s regulated framework in the US, KRWQ says it provides institutions with a compliant pathway to access, trade, and hedge Korean won exposure onchain, further expanding access to regulated infrastructure for global FX trading.

The debut allows traders to hedge KRWQ perp positions on EDXM International alongside regulated spot trading on EDX Markets, which allows for more efficient risk management and reduced reliance on fragmented offshore markets, the firms say.

KRWQ launched last month and is designed, the firm says, to bring the trading of the Korean currency into a more transparent, accessible and capital-efficient market structure. Institutional market participants can access KRWQ on the regulated spot trading venue provided by EDX Markets in the US.

“For the first time, traders have a fully regulated way to trade and hedge Korean won exposure using a stablecoin across both spot and derivatives,” says Dave Shin, COO of KRWQ. “This unlocks a more efficient alternative to the offshore NDF and spot markets.”

Tony Acuña-Rohter, CEO of EDX Markets, adds, “This marks an important step in expanding institutional access to non-USD digital assets within a regulated framework. By pairing spot liquidity on EDX Markets with perpetual futures on EDXM International, we’re enabling more efficient price discovery and risk management for Korean won exposure that aligns with the standards institutional participants expect.”