[EDXM, Backed by Citadel, Plans to Launch KRW Perpetual Contracts, Challenging the World's Largest Offshore KRW Derivatives Market] According to a report by Jinse Finance, on March 24, the cryptocurrency exchange EDXM International, supported by Citadel Securities, announced plans to launch perpetual contract products linked to the Korean won (KRW) in April. This move directly targets the world's largest offshore KRW derivatives market: the KRW Non-Deliverable Forward (NDF) market, which has an average daily trading volume of approximately $27 billion. The product will use the offshore KRW stablecoin KRWQ as its underlying asset, which was issued by Cayman Islands-registered Brainpower Labs in October 2025. Traders can bet on the KRW exchange rate by going long or short on the KRWQ/USDC pair, with all settlements conducted in USDC, eliminating the need for actual KRW delivery and bypassing South Korea's capital control restrictions. EDXM CEO Kai Kono stated that the costs are 50% to 75% lower than traditional NDFs and support instant settlement. The South Korean Financial Services Commission has not commented on this. Some believe that if the product attracts significant institutional funds, it could put greater pressure on South Korea's long-stalled digital asset legislation process.