Shinhan Asset Management Launches KRW Tokenized Fund on Solana
Korea's Shinhan Asset Management is building a Korean won (KRW)-denominated tokenized fund on Solana, modeled after BlackRock's BUIDL fund.
The project follows South Korea's move to enact laws in favor of tokenized securities, which are expected to be implemented in 2027. To prepare for this, Shinhan is testing infrastructure and operational processes without waiting for the regulatory launch.
Shinhan has partnered with the Solana Foundation, Etherfuse, and Orca to develop a proof-of-concept for the tokenized fund, which will encompass the entire lifecycle of a token-based investment fund. This includes investor onboarding, KYC and AML policing, token issuance, regulatory compliance examination, blockchain functioning, as well as secondary market liquidity design.
The project aims to enable overseas institutional investors to take a stake in KRW through tokenization on Solana and be managed by Shinhan Investment Management. The four-party MOU targets a tokenized RWA market at $36B today, projected by BCG to reach as much as $30 trillion.