Crypto
Shinhan Partners with Solana to Launch Tokenized Fund Replicating BlackRock's Blueprint
South Korean financial giant Shinhan Asset Management has partnered with Solana to create a pilot tokenized fund denominated in Korean won (KRW) on the blockchain.
The product, focused on ultra-short-term bonds for offshore institutional investors, replicates the structure of BlackRock's BUIDL fund, the largest player in the real-world asset (RWA) sector.
To launch the project, Shinhan signed a four-party agreement with the Solana Foundation, fintech platform Etherfuse and decentralized exchange Orca.
The partners are testing the entire operational cycle, from customer verification and anti-money laundering procedures to foreign exchange compliance.