Profile
KRWQ profile facts
KRWQ (KRWQ) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Korean Won.
- Collateral
- Issuer-reported USDC and frxUSD custodian reserves, plus USDC in a Base treasury. The October 1, 2026 source reports these three stablecoin positions and no Korean Treasury Bond holdings. Pinned Ethereum reads verify custodian token bindings and Safe ownership; cross-chain circulating-liability reconciliation remains unverified.
- Peg mechanism
- Centralized issuance against a 100% reserve. Mint and redemption are gated to KYC-verified institutional counterparties (exchanges, market makers, OTC desks). Ethereum is the canonical mint chain; Base and other destinations share unified supply via LayerZero OFT v2. KRWQ is not offered to South Korean residents pending domestic stablecoin legislation under the Korean National Assembly.
- Jurisdiction
- Cayman Islands / Issuer Brainpower Labs (formerly LibertyBlock), Cayman Islands company registration CD-353586; no stablecoin license disclosed
- Proof of reserves
- Real-Time PoR by KRWQ custodian-assets API with observable token balances Reserve source
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
KRWQ quick answers
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What is KRWQ?
KRWQ is a Korean won stablecoin backed by issuer-reported USDC and frxUSD reserves, with institutional minting and redemption. The static profile records its Korean Won peg mechanism as: Centralized issuance against a 100% reserve. Mint and redemption are gated to KYC-verified institutional counterparties (exchanges, market makers, OTC desks).
Is KRWQ safe?
As of Oct 28, 2026, Pharos grades KRWQ C+ (64/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs KRWQ?
Pharos records KRWQ's reserves as of Sep 14, 2026 as 71.1% frxUSD (Frax), 15.6% Treasury USDC on Base, and 13.3% USDC (Circle). Reserve evidence: Real-Time PoR by KRWQ custodian-assets API with observable token balances, latest period ending Sep 14, 2026. Pharos classifies the backing as Real-World Asset Backed.
Can KRWQ be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments.
How do you redeem KRWQ?
Under the route Pharos reviewed on May 12, 2026, customers the issuer has verified can redeem KRWQ for a single stable asset, such as cash or a stablecoin. Settlement is same-day. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
