The pilot involves the Solana Foundation, tokenization specialist Etherfuse, and decentralized exchange Orca. Together, they are examining the end-to-end lifecycle of a regulated fund, including mandatory investor identity checks, anti-money laundering protocols, and onchain liquidity management. While the model draws inspiration from BlackRock’s BUIDL fund, Shinhan’s initiative focuses specifically on short-term domestic bonds rather than U.S. Treasuries.
In section Cryptocurrency
Shinhan Asset Management tests won-denominated fund on Solana
Shinhan Asset Management has entered a four-party agreement to pilot a tokenized investment fund denominated in Korean won. By leveraging the Solana blockchain, the project aims to establish a workflow for issuing and distributing assets to overseas institutional investors, mirroring structures used by global giants like BlackRock.
This experiment is part of a broader exploratory phase for the asset manager, which recently signed a separate agreement with Plume to test similar tokenization models. These parallel efforts suggest Shinhan is evaluating various technical infrastructures before South Korea’s new securities laws take effect in early 2027. Under the upcoming regulatory framework, distributed ledgers will be recognized as valid securities registries, though firms must still adhere to strict registration and disclosure requirements enforced by the Financial Services Commission.
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