Shinhan Tests KRW Tokenized Fund on Solana Amid Regulated Tokenization Push

Shinhan Asset Management is testing a Korean won-denominated tokenized fund on the Solana blockchain, marking a significant step towards regulated tokenization in South Korea.

The pilot project targets overseas institutional investors and aims to cover the product's issuance and on-chain distribution processes.

The asset manager signed a four-party memorandum of understanding with the Solana Foundation, Etherfuse, and Orca, a decentralized exchange, to develop the proposed investment product.

The fund would be backed by an ultra-short-term Korean won bond fund managed by Shinhan, which will provide its asset-management expertise.