KRWQ, an offshore-issued Korean won stablecoin under scrutiny over alleged money laundering concerns, has removed tokenized Korean Treasury assets from its reserves roughly six months after adding them in February. KRWQ’s reserves now consist only of dollar stablecoins USDC and frxUSD. The removed asset, Stablebond (KTB), was issued by Shinhan Securities and real-world asset tokenization platform Etherfuse and is backed by Korean government bonds with maturities under one year. Shinhan Securities said it requested Etherfuse remove KTB after learning it had been used as a reserve asset, citing potential issues, and emphasized it has no partnership with KRWQ. KRWQ disclosed about 144.64 million KTB tokens in its reserves last month.