KRWQ, the issuer of the first tradable Korean Won (KRW) stablecoin, today announced a strategic partnership with EDXM International and Spark Systems to launch the world’s first Korean Won stablecoin perpetual futures. The contract will launch on EDXM International and be integrated into Spark Systems’ eFX trading platform, enabling buy-side firms such as hedge funds and other institutional FX market participants to access KRW perpetual futures settled in USDC, with traders hedging exposure through KRWQ spot markets. This collaboration marks a significant milestone in the digital asset industry, providing a transparent, on-chain alternative to the massive offshore KRW Non-Deliverable Forward (NDF) market, which trades in the tens of billions of USD daily.

Since its launch in October 2025, KRWQ has rapidly gained traction as the first on-chain settlement layer for Korean Won trading. The stablecoin is designed to modernize KRW markets by offering a low-cost, fully-reserved settlement asset. Its reserves are uniquely positioned for institutional trust, including tokenized Korean government bonds held by Shinhan Securities, Korea’s premier investment bank.

Disrupting the $60B Daily NDF Market

The Korean Won is currently the largest NDF product globally, with a daily trading volume of $60-90BN. Despite its size, the traditional NDF market is characterized by high barriers to entry, often requiring ISDA agreements that result in opaque pricing and costly synthetic exposure.

By enabling direct long and short positions on KRW spot through stablecoin-settled perpetuals on EDXM International, KRWQ provides a capital-efficient and more accessible venue for macro desks and quant traders. This is particularly relevant as rising funding costs in other corridors, such as USD/JPY, make traditional KRW NDF access increasingly expensive for international trading firms.

“This partnership is a trailblazing moment for the Korean Won,” said Dave Shin, COO at KRWQ. “While we await further regulatory clarity onshore, we are building the infrastructure that allows the Won to be traded globally with the transparency and efficiency that only blockchain can provide. Working with EDXM International allows us to target the daily institutional flow of $60B that has traditionally been locked behind opaque TradFi products.”

Key Partnership Highlights:

• First-in-Market Offering: The introduction of the first-ever KRW stablecoin perpetual futures, allowing for institutional-grade long/short positioning on tthe Korean Won.
• Built for Institutional Investors: Integrated into Spark Systems’ eFX platform, which offers advanced technologies, ultra-low latency, built-in risk controls, customizability, and support from industry professionals.  
• Institutional Transparency: Bringing opaque, off-chain KRW trading volume onto a transparent, 24/7 accessible on-chain ledger.
• Reserve Security: KRWQ is backed by high-quality assets, including tokenized government bonds, ensuring a secure settlement layer for global transactions.
• Regulatory Proactivity: By providing a transparent avenue for KRW trading now, KRWQ aims to lead discussions with Korean regulators regarding the upcoming stablecoin framework.

“This partnership is a major differentiator for EDXM International,” said Kai Kono, CEO of EDXM International. “Our shareholders and institutional clients are looking for innovative, first-of-their-kind products. By providing a venue for the first KRW stablecoin perpetual futures contract, we are enabling TradFi investors to engage with the Korean market through a familiar, secure, and highly liquid digital structure.”

“The launch of KRWQ stablecoin perpetual futures represents a meaningful step forward in how institutional markets can access Korean Won risk,” said Devang Bhatia, Chief Revenue Officer at Spark Systems. “By integrating KRWQ perpetuals into Spark’s low-latency FX trading infrastructure alongside traditional KRW NDFs, we are enabling our clients to manage, hedge, and execute KRW exposure across on-chain and offshore markets through a single UI and API structure. This unification allows institutional trading firms to deploy sophisticated execution and hedging strategies with greater efficiency, transparency, and capital flexibility.”

About KRWQ

KRWQ is the first fiat-backed stablecoin pegged 1:1 to the Korean Won, while cash flows and fees go to the IQ token, allowing anyone to own an early stake in the world’s first Korean Won stablecoin. Developed by IQ in partnership with Frax, KRWQ brings the Korean Won on-chain as a secure, compliant, and scalable settlement layer for global markets. KRWQ is built on proven infrastructure with a controlled mint and redeem framework designed for exchanges and market makers.

For more information, visit www.KRWQ.cash.

KRWQ Media Contact
[email protected]

About EDXM International

EDXM International is a fast-growing digital asset trading venue for institutional clients that leverages best practices from traditional financial markets on a purpose-built crypto platform. EDXM International’s robust liquidity environment, modern technology and nonconflicted business model are designed to meet the needs of both crypto-native firms and the world’s largest financial institutions. EDXM International is a subsidiary of EDX Markets Holding Company Inc.

Disclaimer: 

EDXM International is not regulated by MAS and is different from the exempted entity EDXM Global Pte. Ltd. 

EDXM International’s products and services are not available for persons or entities in US, EU and UK and any marketing done is not directed at persons or entities based in US, EU and UK.

All services and products of EDXM International are only directed toward professional investors or accredited investors or expert investors with sophisticated understanding of underlying risks.

EDX Media Contact
Forefront Communications
[email protected]

About Spark Systems

Spark Systems is an institutional-grade FX trading platform providing low-latency execution, advanced automation, and connectivity across global liquidity venues. Trusted by banks, hedge funds, and proprietary trading firms, Spark enables clients to trade, hedge, and manage risk across spot FX, NDFs, and emerging digital asset markets through a unified trading interface and API. Spark Systems’ technology is designed to meet the performance, reliability, and governance requirements of institutional trading operations worldwide. For further information on Spark Systems, please visit the company’s website https://www.sparksystems.sg.