KRWQ and a Citadel backed crypto exchange are launching the first ever blockchain-based derivative of the Korean won!
KRWQ was created by IQ with cash flows and fees going to IQ.
KRWQ and Citadel backed EDXM International are launching the first blockchain-based derivative of the Korean won!
The news is out on Bloomberg.
KRWQ is the first Korean won stablecoin.
Non-USD stablecoins could make the US dollar stronger 💪
Sounds backwards, but here's the logic behind the idea 👇
As countries launch stablecoins in their own currencies, they can bring more commerce and more currencies onto onchain rails.
And much of that activity can still
What happens when countries start issuing stablecoins in their own currencies?
You might assume they’ll compete with the dollar 💰
@NavV96, Chief Brain at IQ, has a different view
He calls it the “Stablewoods” thesis 🤓🧵