Solana Foundation and Wavebridge Partner to Launch KRW-Pegged Stablecoin for Institutional Use
Highlights:
- Solana Foundation has partnered with Wavebridge to launch a KRW stablecoin.
- The partnership plans to build a trusted system linking banks and blockchain networks in South Korea.
- KRW stablecoins are growing as South Korea prepares new rules for blockchain-based financial assets.
The Solana Foundation has partnered with Korean blockchain infrastructure company Wavebridge to create a Korean won–pegged stablecoin. Both parties signed a memorandum of understanding on Tuesday to begin work on a “compliance-ready” stablecoin for institutional use. The partnership aims to support financial institutions that plan to integrate blockchain-based payment and settlement systems.
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Big news for $SOL! Solana Foundation has partnered with Korean blockchain infrastructure company Wavebridge to build a “compliance-ready” KRW-pegged stablecoin.
Alongside the 100,000 tps update, this is becoming something big, very soon 🚀🌖 pic.twitter.com/EsQivghdyQ
— CoinIQ (@coiniqqq) October 14, 2025
Solana and Wavebridge will build tokenization products that follow financial market rules. The initiative seeks to make stablecoins suitable for banks, fintech firms, and large investors. Wavebridge CEO Jongwook Oh said the project will design systems to issue, verify, and control the stablecoin for institutions.
He added that building on Solana will allow them to create a reliable infrastructure that traditional financial institutions trust. Solana Foundation President Lily Liu said combining both teams’ strengths will unlock new stablecoin use cases. The deal comes as Korea’s financial sector explores new blockchain-based settlement and tokenization methods. With this initiative, Solana proves to be a reliable partner to banks seeking to transfer transactions on-chain.
Solana and Wavebridge to Build Tokenization Engine and On-Chain Infrastructure
Solana and Wavebridge will come up with a tokenization engine of the KRW-pegged stablecoin under the partnership. This system will carry out the issuance, verification, and compliance steps of the token. The engine will include whitelist management and transaction controls to provide clarity and safety to financial institutions.
Wavebridge will lead compliance efforts and handle onboarding for qualified investors. Its track record in digital asset infrastructure will facilitate the implementation of this stablecoin in the financial system of Korea. The company will also manage the relationship with the large banks that will be involved in on-chain programs in settlement and remittances.
The partnership also plans to launch tokenized deposits and explore tokenized money market funds. These products will show how well the Solana blockchain handles institutional transactions. In particular, the system will offer quick and secure transfers in line with financial industry standards.
The Solana technology is scalable, has low transaction costs, and is fast, which is critical to massive tokenized financial workflows. With this growth, the foundation will enhance trust between blockchain and conventional finance. The collaboration shows how institutions can manage compliance while using decentralized infrastructure.
KRW Stablecoins Gain Momentum in South Korea
South Korea is preparing to introduce a legal framework for won-backed stablecoins. The Financial Services Commission plans to announce new measures later this month. This comes as several companies explore Korean won–pegged tokens.
Recently, BDACS launched KRW1, the first KRW-backed stablecoin, on the Avalanche blockchain. In particular, Woori Bank holds one won for every KRW1 token. Other projects, such as KRWT by Frax and Sui’s collaboration with t’order, are also expanding into the market.
Avalanche is powering a new chapter in Korea’s digital economy. 🔺🇰🇷
BDACS, together with Woori Bank, has launched KRW1, a fully collateralized, won-backed stablecoin. Currently in a pilot phase following a full PoC, KRW1 marks an important step toward regulated, bank-integrated… pic.twitter.com/fSsH4si5zP
— Avalanche🔺 (@avax) September 18, 2025
Analysts expect that the project will affect future guidelines later this year. The robust ecosystem of Solana and institutionalism of Wavebridge make both partners capable of developing the future of the stablecoin industry in Korea.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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