Shinhan Financial Group and Solana Partnership

Shinhan Financial Group is collaborating with Solana Foundation and others to create a KRW-denominated tokenized fund, referencing BlackRock's BUIDL model.

The asset management division of South Korea's Shinhan Financial Group has entered into a memorandum of cooperation with Solana Foundation, Etherfuse, and Orca. This collaboration aims to develop a proof of concept for a tokenized fund denominated in Korean won (KRW). As a model for this product, Shinhan Asset Management has referenced the RWA structure BUIDL from BlackRock.

As of August, the company managed assets totaling 133.6 trillion KRW ($96.6 billion). The legal framework for offering tokenized securities in South Korea is set to take effect in February 2027.

Shinhan to Test KRW Fund on Solana Using BlackRock's BUIDL Model