Source: NEXUS

NEXUS (CEO Jang Hyun-guk) announced on Tuesday the 18th that it has signed a strategic memorandum of understanding (MOU) with the KRWQ won-pegged stablecoin.

Through this partnership, KRWQ will be integrated into AI and global game payment services provided by NEXUS and ONE store. This marks the world's first implementation of won-denominated on-chain payments and settlements for global content, positioning it as a frontier for the global utility of won-pegged stablecoins.

KRWQ will be introduced to ONEpay as a payment currency, enabling won-denominated payment options on the global ONE store. It will also be used as a settlement currency, allowing developers and publishers on the global ONE store to choose it as a payout method, thereby expanding their options alongside existing currencies.

Regarding liquidity, the companies are considering the introduction of trading pairs that allow for the exchange of KRWQ with $ONEUSD or $ONE within the ONEchain. They also plan to support distribution by integrating KRWQ-linked wallets, apps, and mini-apps into the global ONE store.

KRWQ is a stablecoin pegged 1:1 to the Korean won. It was co-developed by the stablecoin protocol Frax and the blockchain/AI project IQ, and was issued last year by Brainpower Labs. It maintains collateral assets exceeding 100% of its issuance and provides real-time verification of its supply and reserves. In June, it became the first won-pegged stablecoin to implement Chainlink Proof of Reserve.

Dave Shin, COO of KRWQ, stated, "Games and digital content are areas where the Korean won is most actively used, and ONE store serves as a gateway to expand that demand globally. With the integration of KRWQ into ONEchain and ONEpay, developers can handle everything from pricing to payments and settlements in won on-chain, while verifying reserves in real time."

NEXUS CEO Jang Hyun-guk emphasized, "The application of KRWQ to global AI game payments will provide a practical answer to the recurring question of where exactly won-pegged stablecoins can be used."

Meanwhile, ONE store boasts 38 million embedded wallets and an annual online transaction volume exceeding ₩800 billion. Following its acquisition of ONE store, NEXUS has rebranded its entire ecosystem under the 'ONE' brand: the mainnet CROSS has been renamed ONEchain, the native token $CROSS is now $ONE, and the common ecosystem transaction medium is $ONEUSD.

The company is also accelerating the development of its AI and blockchain game platform. It recently launched an 'AI Games' tab, with AI-generated games now servicing within the ONE store ecosystem. Furthermore, the company has integrated the 'ONEpocket' embedded wallet into the ONE store app and plans to launch the global ONE store in 124 countries simultaneously, marking the start of its full-scale global store and game platform business.