As Korea Moves Toward Won Stablecoin Legislation, Wavebridge Joins Paxos Global Dollar Network as Nation’s First Institutional Partner — Pioneering the Connection Between Korea’s Emerging Stablecoin Ecosystem and Global Dollar Infrastructure
SEOUL, South Korea, March 30, 2026 /PRNewswire/ — Korea is on the cusp of a stablecoin moment. With won-denominated stablecoin legislation advancing rapidly, industry observers increasingly identify the next critical challenge: seamless interoperability between Korean won stablecoins and the U.S. dollar stablecoin ecosystem. Today, Wavebridge takes a defining step toward making that future possible.
Wavebridge, Korea’s leading digital asset prime brokerage and custody firm, has officially joined the Paxos Global Dollar Network (GDN) as Korea’s first and only institutional partner — becoming the first Korean institution to establish a direct, contractual bridge between Korea’s institutional market and the global dollar-backed stablecoin infrastructure.
Why This Matters Now
Korea’s stablecoin regulatory framework is nearing legislation. As won-backed stablecoins move closer to reality, the ability to interoperate with dollar-backed stablecoins will emerge as the next defining infrastructure challenge for Korean financial institutions. Wavebridge is now the first Korean institution with issuer-direct access to USDG — making it the first domestic gateway capable of bridging Korea’s emerging stablecoin ecosystem with the global dollar infrastructure through the USDG system.
What Is the Global Dollar Network?
The Global Dollar Network is an open network designed to accelerate and reward global stablecoin adoption. Powered by USDG (Global Dollar), the network unites the world’s leading financial institutions and digital asset firms including Paxos, Robinhood, Kraken, OKX and over one hundred others in a trusted framework for stablecoin distribution and adoption. Wavebridge joins as Korea’s first and only institutional partner, serving as the official conduit for Korean institutional clients seeking access to the global dollar stablecoin network.
USDG Institutional Custody Service
Wavebridge will launch Korea’s first institutional USDG custody service, backed by its GDN partnership. Under the terms of the agreement, institutional clients holding USDG through Wavebridge’s platform will have access to the rewards from the GDN ecosystem. Unlike traditional stablecoin custody — which has largely been limited to simple safekeeping — Wavebridge’s service offers institutional investors a differentiated value proposition: the opportunity to earn rewards simply by holding USDG in custody with Wavebridge, structured across the following custody tiers.
This marks a fundamental shift from conventional stablecoin custody, which has traditionally offered no financial rewards. Wavebridge’s model introduces a new institutional reward infrastructure to the Korean market — one where simply holding a trusted dollar stablecoin generates measurable rewards.
USDG Minting and Redemption Service — Coming Later This Year
In line with the implementation of stablecoin regulations, Wavebridge will launch minting and redemption capabilities for USDG. Under the GDN partnership agreement, Wavebridge will serve as the official distributor providing Korean institutional clients with access to USDG. This gives Korean institutions direct, regulated access to dollar stablecoin on- and off-ramps for the first time — a capability that will prove foundational as won-dollar stablecoin interoperability becomes a market imperative.
“Joining the Global Dollar Network as Korea’s first institutional partner is not just a business milestone — it is a strategic positioning,” said John Oh, CEO of Wavebridge. “As Korea moves toward won stablecoin legislation, the ability to connect that ecosystem to the global dollar infrastructure will be the next defining challenge. Wavebridge is built to be that bridge. We are the only Korean player with direct contractual access to USDG, and we intend to use that position to bring institutional-grade dollar stablecoin infrastructure to the Korean market — starting with custody in March and expanding to minting and redemption.”
About USDG
USDG (Global Dollar) is a dollar-pegged stablecoin issued by Paxos Digital Singapore Pte. Ltd., supervised by the Monetary Authority of Singapore (MAS) as a Major Payments Institution. In the EU, USDG is issued by Paxos Issuance Europe Oy (PIE), an Electronic Money Institution regulated by the Finnish Financial Supervisory Authority (FIN-FSA). Backed 1:1 by cash and U.S. government securities held in segregated reserve accounts. 1 USDG = 1 USD at all times.
About Wavebridge
Wavebridge is Korea’s leading digital asset prime brokerage and custody firm, providing institutional clients with integrated solutions across trade execution, asset custody, and risk management. Anchored by global partnerships and a rigorous compliance framework, Wavebridge is dedicated to connecting Korean institutional investors with the world’s most trusted digital asset infrastructure.
Wavebridge Media Contact
Rebecca Kim
Principal Advisor, Brand & IR Strategy / Global Communications, Wavebridge
[email protected]
View original content to download multimedia:https://www.prnewswire.com/news-releases/wavebridge-becomes-koreas-first-institutional-partner-in-global-dollar-network-establishing-a-beachhead-for-the-digital-dollar-302728517.html
SOURCE Wavebridge
