Solana Foundation Partners with Wavebridge to Launch KRW Stablecoin
The Solana Foundation has entered into a major partnership with Wavebridge, a Korean blockchain infrastructure company, to advance the launch of a KRW stablecoin. This strategic partnership aims to develop a tokenization engine, promote tokenization of money market funds, and provide on-chain training for Korean banks.
The project includes a tokenization engine, MMF initiatives, and training for Korean banks, which will strengthen Solana’s role in institutional finance across Asia. According to Maeli Business Newspaper, this partnership is Solana’s latest attempt to expand its practical financial applications in Asia.
New Partnership Targets Institutional Funding
Under the agreement, Solana and Wavebridge will work together to develop a tokenization engine that will manage the issuance, verification, and compliance procedures for Korean Won stablecoins. The system will include features such as whitelist management and transaction control to ensure reliability for banks and financial institutions.
Wavebridge is an expert in providing digital asset infrastructure for institutions, which includes custody and prime brokerage services. The partnership aims to connect Korea’s regulatory framework, which is increasingly moving toward stablecoin oversight, with Solana’s global blockchain capabilities.
Dynamics in the KRW Stablecoin Sector
South Korea’s push for KRW-based stablecoins has accelerated in 2025, with initiatives such as Sui’s retail-focused collaboration with t’order, KRW1 on Avalanche, and Frax’s KRWT entering the pilot or live phase. These initiatives aim to reduce reliance on USD-pegged assets and address the so-called “Kimchi premium” that often distorts local crypto prices.
To keep pace with Solana’s broader stablecoin momentum, the Solana Wavebridge initiative joins this wave and focuses on institutional-level use cases. According to Bitwise CIO Matt Hougan, Solana is becoming “Wall Street’s preferred network for stablecoins” due to its low fees and high throughput.
The recent integrations of Worldpay and Bullish Exchange highlight Solana’s growing role in on-chain settlement. The KRW stablecoin could help Korea adopt regulated decentralized finance by connecting banks, fintechs, and public blockchain networks through a compliant framework.
The project could also impact guidelines the Financial Services Commission is expected to release later this year. For more information, visit https://crypto.news/solana-foundation-wavebridge-krw-stablecoin-2025/
