Wavebridge
Wavebridge is a Seoul-based, VASP-registered digital asset financial infrastructure company that provides institutional clients with prime brokerage, custody, multi-currency stablecoin services, and derivatives pricing via its Wavebridge Prime platform and integrations with Canton Network, Paxos, and Solana.
- Company typePrivate
- Founded2020
- HeadquartersSeoul, South Korea
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Wavebridge does
Wavebridge is a Seoul-headquartered digital asset financial infrastructure company serving institutional clients in South Korea and selected international markets. It was founded in 2018 (per firmographic data; some sources cite 2020) and operates with 11-50 employees across offices in Seoul and Vilnius (Wavebridge EU UAB, Lithuania). The company holds a South Korean Virtual Asset Service Provider (VASP) registration (Reg Number: 2024-04, the 4th VASP in 2024) and ISMS certification (ISMS-KISA-2025-053), giving it a regulated base to deliver digital asset services.
The company's core product is Wavebridge Prime, an institutional digital asset prime brokerage platform (rebranded from Dolfin in December 2025) that integrates trading, custody, safekeeping, blockdeal brokerage, clearing, and liquidity connectivity. Supporting modules include the Wave Pricing Engine (derivatives valuation with Greeks and LIBOR-transition risk-free curves, previously deployed at Hana Bank and Shinhan Bank), multi-currency stablecoin custody across 6 currency zones and 11 stablecoins (USD, EUR, JPY, SGD, BRL, AUD), and a digital asset management platform with tax, accounting, and balance/P&L reporting. The technology stack integrates with the Canton Network (first Korean custody provider), the Paxos Global Dollar Network (first Korean institutional partner for USDG), the Solana Foundation (KRW stablecoin and MMF tokenization), Chainlink (oracles), Cloudwall (portfolio management), and Fireblocks (custody technology). An AI chatbot ordering interface is positioned as an AI-based prime brokerage feature.
Wavebridge monetizes through subscription-based access to Wavebridge Prime and the asset management platform, transaction fees from OTC trading, blockdeal brokerage, stablecoin minting/redemption (USDG and others), and B2B settlement infrastructure fees. The go-to-market is enterprise field sales targeting Korean securities firms, asset managers, banks, and corporations, supplemented by strategic bank partnerships (KB Securities, Shinhan Financial Group, Victory Securities) for distribution and co-development. Pricing is quote-based and not publicly disclosed. The company has raised approximately USD 14 million across a 2021 Series A (Aju IB Investment-led, USD 6.2M) and a December 2022 Series B (KB Financial Group-led, USD 7.8M).
Wavebridge firmographics
Firmographics- Name
- Wavebridge
- Legal name
- Wavebridge, Inc.
- Website
- https://wavebridge.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Wavebridge is a Seoul-based, VASP-registered digital asset financial infrastructure company that provides institutional clients with prime brokerage, custody, multi-currency stablecoin services, and derivatives pricing via its Wavebridge Prime platform and integrations with Canton Network, Paxos, and Solana.
- Ownership category
- akta.pro rank
Wavebridge industry classification
Industry- Product category
- Digital Asset Prime Brokerage & Institutional Crypto Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Prime Brokerage & Institutional Trading Services (FSAPADAF)
Keywords
Where Wavebridge is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices2 records
Markets served
Wavebridge business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D
Revenue model
- Prime Brokerage Services: Integrated brokerage services for institutions including custody, safekeeping, blockdeal brokerage, and verified customer network access.
- Digital Asset Trading and Brokerage: Crypto financial services including OTC trading, brokerage commissions from blockdeal transactions.
- Digital Asset Management Platform: Platform subscription for digital asset management with tax, accounting, reporting, and balance/P&L services for institutional clients.
- Stablecoin Services: Custody, minting, and redemption services for stablecoins including USDG and multi-currency stablecoin support.
- Settlement and Payment Infrastructure: B2B settlement network fees for digital asset payment processing and cross-border transactions.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Wavebridge product offering
Product offeringCore offering
Wavebridge provides institutional digital asset financial infrastructure through Wavebridge Prime, an integrated prime brokerage platform offering trading, custody, clearing, safekeeping, blockdeal brokerage, and liquidity connectivity for financial institutions and corporations. The company also delivers a Wave Pricing Engine for derivatives valuation, multi-currency stablecoin custody supporting 11 stablecoins across 6 currency zones (USD, EUR, JPY, SGD, BRL, AUD), and a digital asset management platform with tax/accounting and P&L reporting. These services are delivered through direct enterprise sales, strategic partnerships with major Korean financial institutions, and the Wavebridge Prime self-service platform, with technology built on the Canton Network, Solana blockchain, and Paxos Global Dollar Network.
Product overview
Wavebridge operates as a digital asset financial infrastructure provider for institutions, offering a platform-plus-modules architecture. The core product is Wavebridge Prime, an institutional digital asset prime brokerage platform that integrates trading, custody, safekeeping, blockdeal brokerage, and liquidity services. Supporting modules include the Wave Pricing Engine for derivatives valuation, multi-currency stablecoin custody supporting 11 stablecoins across 6 currencies, and a digital asset management platform with tax/accounting and reporting features. The company also publishes Wavebridge Insights, a daily market research newsletter. Formerly operated Dolfin before rebranding to Wavebridge Prime in December 2025.
Differentiator
Problem solved
Functional benefit
Brands
- Dolfin (돌핀): Digital asset management platform for corporations and high-net-worth individuals, later rebranded to Wavebridge Prime in December 2025
- Wavebridge Prime
- Wave Pricing Engine
Products and services
- Wavebridge Prime Institutional and corporate digital asset prime brokerage platform providing integrated trading, custody, settlement, and liquidity services. Combines trade, clearing, and liquidity connection with AI-based chatbot ordering and blockchain integration for institutional digital asset trading.
- Wave Pricing Engine Pricing engine for financial professionals to fair-value derivatives with fast, accurate, and flexible calculations. Includes Greeks computations for risk management and extraction of risk-free interest rate curves based on LIBOR terminations.
- Multi-Currency Stablecoin Custody Custody service supporting 11 stablecoins across 6 currency zones (USD, EUR, JPY, SGD, BRL, AUD) for foreign exchange, cross-border payments, and trade settlement. Includes USDG custody, minting, and redemption via the Paxos Global Dollar Network.
- Digital Asset Management Platform Platform providing tax and accounting support, monthly and quarterly balance and P&L reporting, transaction history, income/expense tracking, and profit/loss calculations for institutional and corporate digital asset portfolios.
Quantifiable outcome
- First Korean institutional partner in Paxos Global Dollar Network
- +3 more outcomes
Companies that use Wavebridge
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Wavebridge technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature9 records
Wavebridge partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, flagship and minor.
- KS.NETcoreMOU for joint research on institutional off-ramp settlement network. Building B2B settlement network for digital asset payments with stablecoin volatility blocking and safe KRW settlement model as Korea prepares for stablecoin legislation.
- Shinhan Financial GroupcoreShinhan Financial Group including Shinhan Asset Management and Shinhan Investment & Securities signed tokenization collaboration with Canton Foundation. Aims to distribute tokenized products to offshore global investors and participate in network governance.
- HashedcoreHashed, one of Korea's first blockchain-focused VC firms, started asset custody on Wavebridge Prime immediately after custody service launch. One of Wavebridge's first institutional custody clients.
- PaxosflagshipWavebridge joined Paxos Global Dollar Network as Korea's first institutional partner. Provides custody services and minting/redemption capabilities for USDG stablecoin, creating direct connection between Korea's stablecoin ecosystem and global dollar infrastructure.
- Canton FoundationflagshipWavebridge partnered with Canton Foundation for Canton Network blockchain ecosystem. First Korean firm to launch custody services on Canton Network which connects 600+ global institutions including Goldman Sachs, BNP Paribas, HSBC, Citadel Securities, and DTCC with $8 trillion monthly tokenized transaction volume.
- Solana FoundationflagshipStrategic MOU for KRW stablecoin issuance and verification engine development, MMF tokenization, banking sector education, and Web3 ecosystem expansion. Part of Korea's evolving regulatory landscape for digital assets.
- Victory Securities (홍콩 빅토리 증권)coreMOU for structured digital asset product development and Korea-Hong Kong market cooperation. Wavebridge providing advisory and research support for Victory Securities to launch digital asset-based structured products in Hong Kong market.
- Shinhan Investment SecuritiescoreJoint project with Shinhan Investment Securities and Fireblocks for Bitcoin spot ETF development. Shinhan as AP/LP, Wavebridge as prime broker, Fireblocks as custody technology provider for designing Bitcoin ETF structure for Korean capital markets.
- NEOSminorWavebridge's US asset management subsidiary expanding crypto-based asset management business in US, Europe, and Singapore with option income ETFs.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Wavebridge competitors and assessment
Company assessmentDirect peers
- BitGo: Institutional digital asset custody, prime brokerage, and settlement provider. Directly comparable to Wavebridge in providing regulated institutional custody and trading infrastructure.
- Anchorage Digital: Federally chartered crypto bank providing institutional custody, trading, and staking. Comparable to Wavebridge in targeting institutional clients with regulated digital asset infrastructure.
- Paxos: Stablecoin issuer and institutional digital asset infrastructure (Paxos Global Dollar Network, USDG). Strategic partner of Wavebridge; comparable in offering regulated stablecoin minting/redemption and custody services to institutions.
- FalconX: Institutional digital asset prime brokerage providing trading, credit, and custody connectivity. Closest direct peer to Wavebridge Prime in serving institutional clients with integrated brokerage and settlement.
- Fireblocks: Institutional digital asset custody and settlement infrastructure provider. Joint partner with Wavebridge on Shinhan Bitcoin ETF; directly comparable in serving institutional custody and transfer needs.
- BCB Group: Institutional digital asset prime brokerage focused on payments, custody, and trading infrastructure. Comparable to Wavebridge Prime in serving institutional clients with regulated cross-border payment and settlement capabilities.
- Galaxy Digital: Institutional crypto prime brokerage, trading, and asset management firm. Directly comparable to Wavebridge Prime in offering institutional digital asset trading, custody-adjacent services, and tokenization infrastructure to financial institutions.
Regional players
- Dunamu (Upbit): Korea's largest crypto exchange operator. Domestic competitor to Wavebridge in the Korean institutional market, though focused on retail/exchange rather than institutional prime brokerage.
Broad incumbents
- Cumberland (DRW): Institutional crypto trading arm of DRW Holdings. Comparable to Wavebridge's blockdeal brokerage and institutional OTC trading offerings.
- Coinbase Prime: Institutional arm of Coinbase offering prime brokerage, custody, and trading for institutions. Competes with Wavebridge in the institutional segment with a much larger balance sheet and global footprint.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights5 records
Customer concentration
Wavebridge social profiles
Digital presenceWavebridge compliance and trust
Trust signalCompliance3 records
Wavebridge financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wavebridge leadership team
Management profileNumber of profiles
Profiles4 records
Wavebridge subsidiaries and ownership
Company hierarchySubsidiaries1 record
Wavebridge funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wavebridge M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wavebridge
What does Wavebridge do?
Wavebridge provides institutional digital asset financial infrastructure through Wavebridge Prime, an integrated prime brokerage platform offering trading, custody, clearing, safekeeping, blockdeal brokerage, and liquidity connectivity for financial institutions and corporations. The company also delivers a Wave Pricing Engine for derivatives valuation, multi-currency stablecoin custody supporting 11 stablecoins across 6 currency zones (USD, EUR, JPY, SGD, BRL, AUD), and a digital asset management platform with tax/accounting and P&L reporting. These services are delivered through direct enterprise sales, strategic partnerships with major Korean financial institutions, and the Wavebridge Prime self-service platform, with technology built on the Canton Network, Solana blockchain, and Paxos Global Dollar Network.
Is Wavebridge a public or private company?
Wavebridge is a private company. It is classified as venture growth investor backed and is currently operating.
When was Wavebridge founded?
Wavebridge was founded in 2020. It employs 11 to 50 people.
Where is Wavebridge based?
Wavebridge is headquartered in Seoul, South Korea, in the Asia region.
How does Wavebridge make money?
Five revenue lines are on record. Prime Brokerage Services are the primary driver. The others are digital Asset Trading and Brokerage, digital Asset Management Platform, stablecoin Services and settlement and Payment Infrastructure.
Who are Wavebridge's main competitors?
Direct peers on record are BitGo, Anchorage Digital, Paxos, FalconX, Fireblocks, BCB Group and Galaxy Digital. Dunamu (Upbit) is listed as a regional player. Broad incumbents are Cumberland (DRW) and Coinbase Prime.
Does Wavebridge have an API?
No public API is recorded for Wavebridge.
What industry is Wavebridge in?
Wavebridge's product category is Digital Asset Prime Brokerage & Institutional Crypto Infrastructure. Its primary akta.pro industry code is FSAPADAF, Prime Brokerage & Institutional Trading Services. Its NAICS code is 522320 and its SIC code is 6200.