The Solana Foundation has signed a memorandum of understanding (MOU) with Wavebridge, a Korean blockchain infrastructure company, to explore the development of a Korean won (KRW)-pegged stablecoin and other digital asset-based financial products.
This collaboration, announced on October 14, 2025 with the aim to create a compliance-ready infrastructure tailored to South Korea's evolving regulatory environment.
The new tokenization engine will oversee critical processes such as whitelist management, transaction control, and verification, ensuring compliance with requirements for all digital asset activities.
The two firms will also investigate the feasibility of MMF tokenization—running investment funds on blockchain networks. This concept mirrors global initiatives, such as BlackRock’s effort to bring U.S. dollar–based MMFs on-chain.
The partnership emerges against a backdrop of growing collaboration in South Korea’s finance and tech sectors, where international blockchain projects increasingly align with domestic firms versed in local regulatory and compliance frameworks.
Further, the success of this collaboration may hinge on how adeptly the two parties navigate South Korea’s fast-evolving regulatory environment. With legislation for stablecoins anticipated to advance soon, the Solana-Wavebridge partnership enters the market at a pivotal moment.
Institutional adoption will likely depend on demonstrable security, transparency, and interoperability with legacy financial systems. As both global and domestic players move toward tokenization and decentralized finance, this effort positions Solana to play a central role in the next wave of Asia’s crypto asset infrastructure.
