Shinhan Asset Management cooperates with Solana Foundation and others to promote the issuance of tokenized funds denominated in Korean won

Comparatively, South Korea's Shinhan Asset Management Co., Ltd. signed a four-party memorandum of understanding with the Solana Foundation, Etherfuse, and Orca to jointly promote proof of concept for the issuance of tokenized funds denominated in Korean won. The fund structure is based on BlackRock's BUIDL fund. Overseas institutional investors purchase a won ultra-short-term bond fund managed by Shinhan Asset Management, and their holdings will be issued in tokenized form. The proof of concept will cover KYC/AML frameworks, security audits, blockchain operations, compliance, and on-chain liquidity design. Lee Seok-won, CEO of Shinhan Asset Management, said that the goal is to have corresponding capabilities as soon as the system is implemented and lead the Korean won digital financial products market. The National Assembly of South Korea passed an amendment to the STO legal framework in January of this year, which will take effect in February 2027.