Wavebridge signed an MOU with the Jito Foundation, which operates JitoSOL — a liquidity staking token (LST) built on the Solana blockchain — the company announced Monday.
JitoSOL allows holders to stake SOL, Solana's native token, while retaining the ability to transfer and use the asset. In addition to standard staking rewards, the token returns to holders a share of maximum extractable value (MEV), an additional yield generated during the block-production process. As of early this year, more than 14 million SOL had been deposited into the protocol, making JitoSOL the largest LST in the Solana ecosystem.
Regulated financial products using JitoSOL are already taking shape abroad. NASDAQ submitted a proposal to the SEC to list a JitoSOL-based ETF by VanEck. In Europe, 21Shares launched a Solana exchange-traded product (ETP) backed by Jito staking.
Under the MOU, the two parties plan to design institutional digital asset products using JitoSOL as the underlying asset and jointly explore the feasibility of introducing them to the domestic market.
Wavebridge will handle asset custody, product structuring support and retail distribution infrastructure, while the Jito Foundation will contribute technical documentation on JitoSOL, its staking mechanism, and expertise on rewards and risk. Actual product issuance and management will proceed subject to domestic regulatory compliance and cooperation with asset management firms.
The two sides are also preparing a joint research note on domestic digital asset ETFs. Hanwha Asset Management, FnGuide, Korea Digital Asset (KODA), attorney Kang Ryeon-ho of law firm Sejong, and Solana Company are among the participants.
Mark Liu, head of Asia-Pacific at the Jito Foundation, said Wavebridge is "the ideal partner to establish JitoSOL within South Korea's regulated market," adding that "this collaboration is not a one-off pilot project but a first step toward building long-term infrastructure."
Oh Jong-wook, CEO of Wavebridge, said institutional demand for digital assets in South Korea is growing rapidly but the infrastructure to support it "remains fragmented across different layers." He added that the company aims to integrate proven staking infrastructure into domestic regulated product design and "bring it together into a single roadmap."
kyoung@heraldcorp.com
