Wavebridge (CEO John Oh), a digital-asset infrastructure company serving institutional clients, announced on September 16 that it is beginning full connectivity with StableFX, the onchain FX network operated by Circle for qualified institutional counterparties, in step with the mainnet launch of Arc. With Arc — the open, EVM-compatible Layer-1 blockchain built by Circle — now live, Wavebridge has become one of the first Korean institutions to participate in StableFX, expanding Korean institutions' access to global multi-currency stablecoin settlement.

Through Wavebridge Prime, the company's prime brokerage service, Korean institutions can reach the global multi-currency stablecoin settlement network without each institution onboarding to StableFX directly. The prime-brokerage model has long been how institutions access trading and settlement infrastructure without holding direct memberships at every venue; here it functions as the on-ramp for Korean institutions to a network whose availability opened with Arc's mainnet.

Arc and StableFX

Arc is an open, EVM-compatible Layer-1 blockchain designed for stablecoin-based finance. It uses USDC for gas and provides the infrastructure for payments, settlement, tokenized assets, and other institutional financial activity. Arc offers deterministic sub-second finality and predictable, dollar-based fees, and is operated by a geographically diverse set of known institutional validators.

Running on Arc, StableFX is the onchain FX network operated by Circle for qualified institutional counterparties. It aggregates quotes from multiple liquidity providers through a request-for-quote (RFQ) process and uses payment-versus-payment (PvP) settlement to reduce counterparty risk. In a PvP flow, both legs of a currency exchange settle simultaneously, addressing the settlement risk that has historically tied foreign-exchange dealing to chains of correspondent banks and prefunded accounts. The network operates 24/7, with access limited to institutions that pass KYB/AML screening.

Wavebridge Prime's Role

Wavebridge — whose virtual-asset service provider (VASP) notification was accepted by Korea's Financial Intelligence Unit (KoFIU) — integrates StableFX connectivity into the settlement, liquidity, and custody workflows of Wavebridge Prime. Korean institutional clients can use Wavebridge as a single point of access across the process, from funding to stablecoin exchange and settlement, with Wavebridge acting as the intermediary that connects clients to StableFX access and trade execution. For clients, that means one onboarding relationship covers funding, exchange, and settlement rather than a separate process for each function.

What It Means for Korean Institutions

To date, Wavebridge has supported custody of 11 stablecoins across six currency zones: the U.S. dollar, euro, yen, real, Australian dollar, and Singapore dollar. The new StableFX connectivity extends Wavebridge's services beyond custody to intermediating stablecoin exchange and settlement. Support begins with USDC-based settlement and will expand to EURC and additional stablecoins as they are supported on StableFX.

The aim is to give Korean institutions a 24/7 access point to multi-stablecoin settlement, without the prefunding across multiple correspondent banks or the business-hours constraints required by traditional foreign-exchange settlement. That continuity is directly relevant in practice: Korean banking hours overlap only partially with those of North American and European counterparties, and cross-currency payments between them have traditionally waited for overlapping business windows, whereas a network that runs continuously can process them at any time. How quickly EURC and further currencies come online on StableFX will serve as the near-term marker of how much of that six-currency coverage can move from storage into active exchange and settlement.

The development reflects a broader shift in which institutional digital-asset infrastructure is expanding beyond single-asset trading into payments and multi-currency connectivity. Circle built Arc and operates StableFX, meaning the same company spans the settlement blockchain and the FX network running on it; Wavebridge is positioning Wavebridge Prime as the Korean access layer to that stack.

John Oh, CEO of Wavebridge, said: "Through the integration, we're building the access layer that connects Korean institutions to what's being built on Arc — on standardized, compliant rails through Wavebridge Prime. With the launch of Arc mainnet, we will continue to broaden the foundation for Korean institutions to access global stablecoin settlement infrastructure in a standardized way."