Wavebridge Launches Arc Mainnet Access for Korean Institutions
Wavebridge enables Korean institutions to settle multi-currency stablecoin trades on Arc mainnet via Wavebridge Prime, bypassing direct onboarding requirements.
Wavebridge announced full connectivity to the StableFX network on September 16. This move follows the mainnet launch of Arc, a Layer-1 blockchain built by Circle. The launch provides Korean institutions with immediate access to global stablecoin settlement.
The company acts as an intermediary through its Wavebridge Prime service. Korean clients can now reach multi-currency stablecoin markets without individual onboarding to StableFX. This expands their access to onchain foreign exchange settlement infrastructure.
Arc Mainnet Features and Architecture
Arc is an open, EVM-compatible Layer-1 blockchain designed for institutional finance. It uses USDC for gas fees. The network offers deterministic sub-second finality and predictable dollar-based costs.
StableFX operates on Arc as a 24/7 onchain FX network. It aggregates quotes from multiple liquidity providers using a request-for-quote model. Settlement occurs via payment-versus-payment to reduce counterparty risk.
Institutional Access and Regulatory Compliance
Wavebridge received virtual-asset service provider notification from Korea's Financial Intelligence Unit. The firm integrates StableFX connectivity into its existing settlement and custody workflows. This allows clients to use a single point of access for funding and trade execution.
Access to StableFX is limited to institutions passing KYB and AML screening. Wavebridge handles the intermediary role for Korean clients. This removes the need for direct institutional onboarding to the Circle network.
Expansion of Stablecoin Settlement Capabilities
Wavebridge currently supports custody of 11 stablecoins across six currency zones. These include the US dollar, euro, yen, real, Australian dollar, and Singapore dollar. The new connectivity extends services from custody to active settlement.
Initial support covers USDC-based settlement. This will expand to EURC and other stablecoins as they are supported on StableFX. The infrastructure allows 24/7 access without prefunding across multiple correspondent banks.
