Solana and Wavebridge: Revolution in the Korean stablecoin market!

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Solana Foundation and Wavebridge announce partnership to develop KRW stablecoin in South Korea.

Solana Foundation und Wavebridge kündigen Partnerschaft zur Entwicklung eines KRW-stabilen Stablecoins in Südkorea an.
Solana Foundation and Wavebridge announce partnership to develop KRW stablecoin in South Korea.

Solana and Wavebridge: Revolution in the Korean stablecoin market!

Today, October 14, 2025, Solana Foundation announced a significant partnership with Wavebridge, a Korean company specializing in blockchain infrastructure. This collaboration aims to develop a KRW-pegged stablecoin specifically tailored to the needs of the South Korean market. A memorandum of understanding (MOU) has been signed to work together on a tokenization engine that will be crucial to the issuance, verification and compliance processes of the KRW stablecoins.

The tokenization engine will include essential features such as whitelist management and transaction control. In addition, Korean banks are being trained in on-chain processes to improve their digital currency handling capabilities. This initiative not only contributes to the development of the KRW stablecoin, but also promotes the tokenization of money market funds and expands Solana's presence in the Korean blockchain ecosystem.

Synergies between Solana and Wavebridge

Wavebridge brings a comprehensive digital asset infrastructure, including custody and prime brokerage services. The partnership is a strategic move to connect Korea's regulatory framework with Solana's global blockchain capabilities. The KRW stablecoin market has accelerated greatly in 2025, particularly with initiatives such as Sui's collaboration with t'order and Frax's KRWT, which aim to reduce reliance on USD-pegged assets.

A significant goal of these initiatives is to address the so-called “Kimchi Premium,” which traditionally describes the price differences between cryptocurrencies in the South Korean market and the international market. Solana's robust network architecture, known for low fees and high throughput rates, positions the platform as the preferred network for stablecoins in the financial world.

Growing role of Solana

Recent integrations from major players such as Worldpay and Bullish Exchange highlight Solana's growing role in on-chain settlements. The planned KRW stablecoin could enable Korea to establish regulated decentralized financial solutions by bridging banks, fintechs and public blockchain networks. Not only has Solana established itself as a technological platform, but it could also have far-reaching implications for future guidelines published by the Financial Services Authority later this year.

The partnership between the Solana Foundation and Wavebridge marks a significant step in the advancement of the blockchain ecosystem in South Korea and could have a significant impact on the entire financial landscape.