Shinhan Tests Tokenized Fund on Solana and Plume

South Korea's $96.6 billion asset manager Shinhan Asset Management has entered into two separate memoranda of understanding to test a tokenized fund on Solana and Plume, rival blockchain platforms.

The agreements are part of a deliberate hedging strategy by Shinhan, which aims to secure capabilities that can be activated immediately upon the implementation of South Korea's tokenized securities framework in February 2027. The framework will allow financial institutions to issue and distribute tokenized securities within the country.

The won-denominated ultra-short-term bond fund managed by Shinhan will be represented in tokenized form for onchain distribution, with overseas institutional investors purchasing the tokens. The four partners involved - Shinhan, Solana Foundation, Etherfuse, and Orca - will jointly examine know-your-customer and anti-money laundering controls that meet domestic and international requirements.