Wavebridge, a licensed Virtual Asset Service Provider based in Seoul, has signed a memorandum of understanding with the Jito Foundation to develop institutional products based on JitoSOL, Solana's largest liquid staking token. The partnership pairs an established Korean digital asset infrastructure firm with the protocol that has over 14 million SOL deposited as of early 2026, making JitoSOL the dominant liquid staking option on Solana by a wide margin.

The Partnership Structure

Under the agreement, Wavebridge will handle custody, product structuring, and distribution for the South Korean market. The Jito Foundation will provide technical guidance on staking mechanics, reward structures, and risk profiles. JitoSOL combines standard staking rewards with MEV (maximal extractable value) rewards, offering holders yield from both transaction validation and optimized transaction ordering.

The MOU also includes a joint research note on domestic digital asset ETFs, involving Hanwha Asset Management, one of South Korea's most prominent traditional asset managers. This collaboration signals that discussions about crypto ETFs in Korea may be more advanced than observers realize, even though no digital asset ETFs have been approved yet.

Regulatory and Infrastructure Hurdles

Wavebridge CEO Oh Jong-wook acknowledged rising institutional demand but flagged fragmented infrastructure as a genuine obstacle. Korean institutions face challenges around custody interoperability, regulatory clarity on staking yields, and reconciling 24/7 crypto markets with traditional settlement cycles. Any JitoSOL product will need to navigate these issues before institutional capital can flow.

Additionally, regulators may treat liquid staking tokens differently from plain staking due to the extra layer of smart contract risk and protocol governance. The Jito Foundation's role in providing risk documentation suggests both parties understand this will be a regulatory conversation, not just a product design exercise.

What This Means

This MOU is a significant step toward bringing Solana-based staking products to one of Asia's most sophisticated institutional markets. The involvement of Hanwha in the ETF research component adds credibility, as it is a traditional asset manager with deep roots in Korean finance. If this partnership leads to compliant JitoSOL products, it could open the floodgates for other Solana-based investment vehicles in South Korea.