KRWQ Is Live on Morph, Bringing the Korean Won Onchain
Morph is excited to announce the integration of KRWQ, a Korean won stablecoin built on transparent reserve infrastructure, onto the Morph network.
KRWQ is a fully-backed, programmable representation of the Korean won. Each token is backed 1:1 by KRW reserves, published in real time with monthly independent attestations. Built by Frax and IQ, KRWQ combines Frax's stablecoin infrastructure with IQ's onchain content and knowledge ecosystem.
KRWQ is designed for practical use across remittance, treasury operations, and commerce, letting users hold, send, and redeem Korean won at internet speed without the settlement delays of traditional banking rails.
Korean Won Settlement on Morph
The addition of KRWQ expands the stablecoin universe on Morph beyond dollar-denominated assets. For users and applications that operate in or settle into Korean won, KRWQ provides a transparent, programmable alternative to off-chain FX intermediation.
Morph's payment-optimized settlement layer, with sub-second finality and near-zero transaction costs, is well suited for the kind of high-frequency, low-cost flows KRWQ is designed to support, whether for consumer remittance, cross-border B2B payments, or programmatic treasury management.
USDT-KRWQ Pool Now Live on BulbaSwap
Alongside the deployment, a USDT-KRWQ liquidity pool is now live on BulbaSwap, Morph's native DEX. The pool enables direct on-chain swaps between USDT and KRWQ, providing a dollar-to-won conversion path without leaving the Morph network.
Trading Competition: 5 Weeks, $5,000 in KRWQ + 1,150 BGB in Rewards
To mark the launch, join the five-week trading competition on Morph starting Monday, March 30, 2026.
Each week, a share of the total prize pool (7,500,000 KRWQ ($5,000) and 1,150 BGB combined) will be distributed to the top 10 wallets by KRWQ trading volume on Morph that week. Rankings reset at midnight EST every Sunday. The competition runs from March 30 through May 3.
How to participate:
- Get KRWQ on Morph via the USDT-KRWQ pool on BulbaSwap
- Trade KRWQ on Morph during the competition window
- Track your weekly ranking on the leaderboard
Weekly rewards will be distributed to the top 10 qualifying wallets early the following week.
What Comes Next
KRWQ's arrival on Morph is part of a broader expansion of the stablecoin ecosystem on the network. As non-dollar stablecoins become a more significant part of global payment flows, having transparent, well-reserved assets like KRWQ available for settlement matters.
We look forward to seeing how the community puts KRWQ to work.
Money at the speed of life.
