South Korean crypto firm Wavebridge has signed a Memorandum of Understanding with the Jito Foundation to introduce JitoSOL institutional products to the local market. The deal aims to give Korean institutional investors access to Solana-based liquid staking through JitoSOL.
The partnership
Wavebridge, a company focused on digital asset services for institutions, will work with the Jito Foundation to offer JitoSOL products. JitoSOL is a liquid staking token built on the Solana blockchain. It allows users to stake SOL and receive a liquid token that can be used in other DeFi applications while still earning staking rewards.
The memorandum outlines a framework for collaboration but does not specify a launch date or financial terms. Both parties said they will coordinate to ensure compliance with South Korean regulations.
What is JitoSOL?
JitoSOL is issued by the Jito Foundation, which oversees the Jito protocol on Solana. The protocol manages a pool of staked SOL and distributes rewards to JitoSOL holders. Institutional products based on JitoSOL could include staking services, custody solutions, or structured investment vehicles tailored for large investors.
South Korea has a growing institutional appetite for crypto exposure, but regulatory hurdles remain. The partnership suggests a push to offer regulated or compliant staking products.
Wavebridge's role
Wavebridge will act as the local partner, handling distribution and compliance. The company has experience in the Korean crypto market and holds relevant licenses. By bringing JitoSOL to institutions, Wavebridge aims to bridge the gap between global DeFi protocols and Korea's traditional finance sector.
The Jito Foundation is known for its work on the Jito protocol, which includes a liquid staking solution and a validator client for Solana. The foundation has been expanding its reach beyond the U.S. and into Asia.
Neither company provided a timeline for the product launch. The MOU is a preliminary step, and further details are expected once regulatory approvals are sought.
