Shinhan Asset Partners with Plume Network on Won-Denominated Tokenized Fund
Shinhan Asset Management is collaborating with Plume Network to develop a won-denominated tokenized fund. The project, which is currently in its proof-of-concept stage, aims to utilize one of Shinhan Asset's ultra-short bond funds as the underlying asset.
The two companies plan to assess the feasibility of tokenization in offshore markets, taking into account regulatory compliance requirements and technical feasibility across the full issuance and distribution process. This includes whitelist-based transfer restrictions, on-chain operating structures, know-your-customer checks, and anti-money laundering controls.
According to Lee Seok-won, CEO of Shinhan Asset Management, the goal is to build a foundation for drawing overseas capital into South Korea through won-based stablecoins and tokenized securities. He noted that dollar-denominated assets have led on-chain settlement and liquidity infrastructure so far, but it's essential to verify both regulatory compliance frameworks and technological operational feasibility.
Chris Yin, CEO of Plume Network, stated that the RWA tokenization market has grown around dollar-denominated assets, but there is an increasing demand for integration across global markets. Through this partnership with Shinhan Asset, Plume will test whether won-denominated assets can be used globally within a compliant framework.