Shinhan Asset Management Tests Korean Won Tokenized Fund on Solana
South Korea's Shinhan Asset Management has signed a four-party memorandum to test a Korean won tokenized fund on the Solana blockchain. The agreement, signed on August 21, brings together Shinhan, the Solana Foundation, Etherfuse, and Orca for a proof of concept that will cover investor checks, issuance, distribution, and on-chain liquidity.
The planned product would invest in short-term Korean won bonds and target overseas institutional investors. However, the participants have not announced the fund's size or expected yield.
Shinhan will provide asset management and regulatory expertise, while Etherfuse supplies infrastructure for creating and managing tokenized assets. Orca will help design the liquidity system used to distribute or exchange the fund tokens on Solana.