KRWQ Removes Tokenized Korean Government Bond Reserve Assets

The KRWQ stablecoin has removed tokenized Korean government bond assets from its reserve, which were included in February of this year, approximately six months ago. Currently, KRWQ's reserves consist solely of USD stablecoins USDC and frxUSD. The removed token, named Stablebond (KTB), was jointly issued by Shinhan Securities and Etherfuse, and is anchored to Korean government bonds with a maturity of less than one year. Shinhan Securities stated that using KTB as a reserve asset could pose issues and has requested Etherfuse to remove it, emphasizing that there is no partnership with KRWQ. Last month, KRWQ disclosed that the KTB token accounted for approximately 144.64 million units of its reserve assets.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.