diff --git a/e2e/wasm/index.test.ts b/e2e/wasm/index.test.ts
new file mode 100644
index 00000000..83b31e65
--- /dev/null
+++ b/e2e/wasm/index.test.ts
@@ -0,0 +1,9 @@
+import { expect, test } from '@rstest/core';
+
+test('WASM factorial', async () => {
+  const { _Z4facti: AsyncFactorial } = await import('./src/factorial.wasm');
+
+  expect(AsyncFactorial(1)).toBe(1);
+  expect(AsyncFactorial(2)).toBe(2);
+  expect(AsyncFactorial(3)).toBe(6);
+});
diff --git a/e2e/wasm/src/factorial.wasm b/e2e/wasm/src/factorial.wasm
new file mode 100644
index 00000000..50ce8c09
Binary files /dev/null and b/e2e/wasm/src/factorial.wasm differ
diff --git a/e2e/wasm/src/factorial.wasm.d.ts b/e2e/wasm/src/factorial.wasm.d.ts
new file mode 100644
index 00000000..67641458
--- /dev/null
+++ b/e2e/wasm/src/factorial.wasm.d.ts
@@ -0,0 +1 @@
+export function _Z4facti(n: number): number;
diff --git a/packages/core/src/core/plugins/external.ts b/packages/core/src/core/plugins/external.ts
index 3f45c2d6..b915a9f7 100644
--- a/packages/core/src/core/plugins/external.ts
+++ b/packages/core/src/core/plugins/external.ts
@@ -15,7 +15,7 @@ const autoExternalNodeModules: (
     return callback();
   }
 
-  if (request.startsWith('@swc/helpers/')) {
+  if (request.startsWith('@swc/helpers/') || request.endsWith('.wasm')) {
     // @swc/helper is a special case (Load by require but resolve to esm)
     return callback();
   }
diff --git a/packages/core/src/core/plugins/mockRuntime.ts b/packages/core/src/core/plugins/mockRuntime.ts
index 4276eb40..3b223502 100644
--- a/packages/core/src/core/plugins/mockRuntime.ts
+++ b/packages/core/src/core/plugins/mockRuntime.ts
@@ -48,6 +48,17 @@ class MockRuntimeRspackPlugin {
 
             module.source!.source = Buffer.from(finalSource);
           }
+
+          if (module.name === 'async_wasm_loading') {
+            const finalSource = module.source!.source.toString('utf-8').replace(
+              // Sets the object configurable so that imported properties can be spied
+              // Hard coded in EJS template https://github.com/web-infra-dev/rspack/tree/7df875eb3ca3bb4bcb21836fdf4e6be1f38a057c/crates/rspack_plugin_wasm/src/runtime
+              'readFile(',
+              'readWasmFile(',
+            );
+
+            module.source!.source = Buffer.from(finalSource);
+          }
         },
       );
     });
diff --git a/packages/core/src/runtime/worker/loadModule.ts b/packages/core/src/runtime/worker/loadModule.ts
index 4a24e3ba..4e329d10 100644
--- a/packages/core/src/runtime/worker/loadModule.ts
+++ b/packages/core/src/runtime/worker/loadModule.ts
@@ -171,6 +171,22 @@ export const loadModule = ({
       assetFiles,
       interopDefault,
     ),
+    readWasmFile: (
+      wasmPath: string,
+      callback: (err: Error | null, data?: Buffer) => void,
+    ) => {
+      const joinedPath = isRelativePath(wasmPath)
+        ? path.join(path.dirname(distPath), wasmPath)
+        : wasmPath;
+      const content = assetFiles[path.normalize(joinedPath)];
+      if (content) {
+        callback(null, Buffer.from(content, 'utf-8'));
+      } else {
+        callback(
+          new Error(`WASM file ${joinedPath} not found in asset files.`),
+        );
+      }
+    },
     __rstest_dynamic_import__: defineRstestDynamicImport({
       testPath,
       interopDefault,
diff --git a/packages/core/src/utils/error.ts b/packages/core/src/utils/error.ts
index c696bdbb..8eadca71 100644
--- a/packages/core/src/utils/error.ts
+++ b/packages/core/src/utils/error.ts
@@ -67,8 +67,11 @@ export async function printError(
       fullStack: error.fullStack,
       getSourcemap,
     });
-
-    if (!stackFrames.length && error.stack.length) {
+    if (
+      !stackFrames.length &&
+      Array.isArray(error.stack) &&
+      error.stack.length
+    ) {
       logger.log(
         color.gray(
           "No error stack found, set 'DEBUG=rstest' to show fullStack.",