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Tokenized Assets & RWA News
Shinhan Asset Management has entered a four-party agreement with the Solana Foundation, Etherfuse, and Orca to run a proof-of-concept for issuing a Korean won-denominated tokenized fund on a public blockchain. The South Korean firm, which manages roughly 133.6 trillion won ($96.6 billion) in assets, announced the memorandum of understanding on Friday.
The structure under review would have overseas institutional investors buy into a KRW ultra-short-term bond fund managed by Shinhan, with the underlying holdings then issued in tokenized form. The company said it modeled the initiative after BlackRock’s tokenized fund BUIDL.
STO Regulation Opens the Door
South Korea’s National Assembly passed amendments in January 2026 that established a legal framework for security token offerings, clearing a path for blockchain-based issuance and trading of tokenized securities in the country. Those amendments were promulgated the following month and are scheduled to take effect in February 2027.
The regulatory change has prompted several South Korean financial institutions to prepare tokenized securities services. In April 2026, South Korea’s Ministry of Finance and Economy launched its own pilot to test blockchain-based deposit tokens for government-related expenses.
Related Article: Ripple Strikes 3rd South Korea Deal in 2026 with Jeonbuk Bank Partnership
Proof-of-Concept Scope
Within the proof-of-concept, the four parties will examine Know Your Customer and Anti-Money Laundering frameworks consistent with domestic and international requirements. The work will also cover security audits, blockchain operations, regulatory compliance, and on-chain liquidity design.
Lee Seok-won, CEO of Shinhan Asset Management, said the company wants to be positioned to move quickly once the regulatory system is live. “Our goal is to proactively secure capabilities that can be activated immediately upon the system’s implementation, and to lead the market for managing KRW-based digital financial products,” he said.
According to an RWA(dot)io report cited in Shinhan’s announcement, the global market for tokenized real-world assets, excluding stablecoins, stood at approximately $36.27 billion, a 2,200% increase from 2020. Shinhan Asset Management is a subsidiary of the larger Shinhan Financial Group.
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