NEXUS has entered into a strategic partnership to incorporate KRWQ, a stablecoin pegged to the Korean won, into its AI-driven and global game payment infrastructure. This collaboration enables the first-ever won-denominated on-chain payments and settlements for international digital content, expanding the practical use of won-pegged stablecoins in global markets.
KRWQ will be introduced as a payment currency within ONEpay, the payment system tied to the global ONE store platform. This integration allows users to complete transactions using Korean won directly and provides game developers and publishers with an additional payout option alongside existing currencies, enhancing flexibility for global settlements.
The partnership also envisions liquidity improvements through the potential addition of trading pairs linking KRWQ to $ONEUSD and $ONE tokens within the ONEchain blockchain environment. KRWQ wallets, apps, and mini-apps will be integrated into the ONE store ecosystem, supporting seamless distribution and use in the global content marketplace.
KRWQ is a stablecoin co-developed by the Frax protocol and the IQ blockchain/AI project, issued by Brainpower Labs. It maintains over 100% collateral backing and offers real-time reserve verification, making it a transparent and reliable payment token. A pioneering achievement for KRWQ occurred when it became the first won-pegged stablecoin to adopt Chainlink’s Proof of Reserve mechanism.
The collaboration reflects the significance of the Korean won in digital content and gaming sectors, especially within the global reach of ONE store, which boasts 38 million embedded wallets and annual transactions surpassing ₩800 billion. Under NEXUS’s leadership, the entire ecosystem has been rebranded as 'ONE,' including renaming its mainnet to ONEchain and native token to $ONE.
With the integration of KRWQ, developers will manage pricing, payments, and settlements entirely in won on-chain, with transparent reserve verification. This step also aligns with NEXUS’s efforts to accelerate AI and blockchain game development, recently introducing AI-generated games via an 'AI Games' section on the ONE store.
Further developments include embedding the 'ONEpocket' wallet into the ONE store app and plans to launch the ONE store in over 120 countries simultaneously, signaling a concerted push to establish a comprehensive global store and game platform ecosystem leveraging blockchain technology and stablecoin payments.