#South Korea #Seoul #Blockchain #KRWQ #Dave Shin

KRWQ Welcomes Dave Shin as New COO

In a significant move to bolster its leadership team, KRWQ, the first fiat-backed multichain Korean won stablecoin, has appointed Dave Shin as its Chief Operating Officer. This announcement marks a pivotal step in KRWQ's journey to revolutionize the financial landscape in South Korea and beyond.

Dave's appointment comes as KRWQ aims to navigate the complexities of the financial and blockchain ecosystems, leveraging his impressive track record of over fifteen years in traditional finance coupled with rich experience in blockchain technology. Having held senior positions at major global financial institutions like TD Bank, Barclays, and Morgan Stanley, Dave has a deep understanding of equity derivatives and institutional client development across key Asian markets including Korea, Japan, and China.

In the blockchain space, Dave is no stranger; he has been a crucial figure in developing large-scale ecosystems. His previous roles include significant contributions at Klaytn, where he was instrumental in driving global adoption, and at LayerZero Labs, where he directed business development strategies in the Asia-Pacific region. His leadership experience encompasses business expansion and strategic initiatives that paved the way for a more interconnected financial ecosystem.

As the new COO of KRWQ, Dave Shin's mission is to oversee the operational aspects of KRWQ. This role will involve integrating the stablecoin into various exchanges and liquidity venues, ensuring that it meets the needs of institutional clients and traders looking for efficient KRW transactions. His extensive background in finance and blockchain execution enables him to assess how KRWQ can optimize KRW pricing and settlement processes, which are traditionally fraught with frictions.

“Developing an offshore KRWQ stablecoin market presents a structural efficiency upgrade for KRW risk transfer. The existing KRW Non-Deliverable Forward (NDF) market is limited by various frictions, and KRWQ offers a digitally settled alternative,” says Dave Shin. He emphasizes that KRWQ can minimize settlement risks, reduce balance-sheet usage, and enhance liquidity, ultimately benefiting macro traders, hedgers, and market makers.

Dave's insights resonate with KRWQ's standing vision, which is to forge a stablecoin market that offers a seamless and effective way to manage KRW exposure amidst existing market challenges. His unique blend of expertise in finance and blockchain development is seen as vital in navigating the operational and strategic pathways for KRWQ, especially as it seeks to capitalize on modern financial trends.

“In Dave, we have an exceptional leader who embodies the blend of experience from traditional finance and blockchain technology,” states Navin Vethanayagam, Chief Brain of IQ. “This unique combination positions KRWQ to enhance its credibility and execution in a rapidly evolving market.”

Sam Kazemian, Founder and CEO of Frax, also echoed these sentiments, noting, “Dave’s operational expertise and experience managing complex derivatives make him the ideal person to lead KRWQ's operations. We look forward to his leadership as we continue to build upon the robust infrastructure developed by Frax.”

About KRWQ

KRWQ is a groundbreaking fiat-backed stablecoin pegged to the Korean Won, developed through a partnership between IQ and Frax. Designed to bring the Korean won on-chain, KRWQ operates as a secure and compliant settlement layer that caters to the needs of global market participants. Its innovative design incorporates a controlled mint and redeem framework, optimizing it for exchanges and market makers.

For further information and updates, visit KRWQ's website.