Overview

• The partners will build a tokenization engine to manage issuance, verification, and compliance for a Korean won–pegged asset on Solana.
• Wavebridge will supply regulated infrastructure while leading coordination with authorities and onboarding of qualified investors.
• Pilot programs with major Korean banks are planned to test on-chain settlement, cross-border remittances, and tokenized deposits.
• Solana Foundation leaders say the work is intended to enable real-world use cases such as stablecoin payments and money market fund tokenization.
• The move enters a competitive field that includes BDACS’s KRW1 on Avalanche with Woori Bank escrow and reported outreach by Tether to fintechs including Toss.