Citadel-backed crypto exchange EDXM plans to launch Korean Won/US Dollar derivatives, using stablecoins for trading.

PANews reported on March 24th that, according to Bloomberg, EDXM International, a cryptocurrency exchange backed by Citadel Securities, plans to launch a perpetual futures contract tracking the Korean won against the US dollar. Trading will utilize the Korean won stablecoin KRWQ against the US dollar stablecoin USDC, aiming to create an alternative to traditional non-deliverable forwards (NDF) foreign exchange derivatives. The product is expected to launch in early April, with a target daily trading volume of $500 million within a year and transaction costs projected to be 50% to 75% lower than traditional NDFs. KRWQ is the first offshore-issued Korean won stablecoin, launched in October 2025 by Brainpower Labs in the Cayman Islands, and is not subject to South Korean regulation. EDXM International CEO Kai Kono stated that the stablecoin perpetual contract allows for real-time settlement without banking relationships, and the cost of going long or short on the Korean won is significantly lower than with NDFs.