Crypto
Hanwha Asset Management Teams Up with Ripple to Enter Digital Assets Market
South Korea's Hanwha Asset Management has entered into a strategic partnership with Ripple and Canary Capital to explore digital assets, particularly in real-world asset (RWA) tokenization. This move marks a growing interest from traditional financial institutions in blockchain-based products.
Canary Capital CEO Steven McClurg emphasized the firms' shared belief in the transformative potential of tokenization, stating 'We strongly believe tokenization of real-world assets (RWA) is the future of the financial system.'
The partnership aims to launch an XRP ETF in South Korea, providing a regulated investment vehicle for local investors and potentially encouraging institutional participation in digital assets.