Shinhan Asset Management Pilots Won-Denominated Tokenized Fund on Plume

Woofun AI reports that Shinhan Asset Management has formalized a strategic partnership with Plume through a memorandum of understanding (MOU) to develop a proof of concept for a tokenized investment vehicle denominated in Korean won.

The pilot structure utilizes a Shinhan won-denominated ultra-short-term bond fund as its underlying asset, while adopting BlackRock's BUIDL tokenized fund as a structural benchmark. Announced on Friday, this framework is designed to rigorously test the issuance and distribution mechanics of such financial instruments.

Structurally, the project will validate compliance protocols essential for tokenized products, including whitelist-based transfer restrictions, onchain operations, Know-Your-Customer checks, and Anti-Money Laundering controls. Per Woofun AI, the strategic objective is to assess the viability of deploying won-denominated financial products in onchain markets that have predominantly evolved around dollar-denominated assets.

This move aligns with broader group initiatives, including Shinhan Card's April MOU with the Solana Foundation to test stablecoin payment technology and non-custodial wallets.

Additionally, Shinhan Bank completed a stablecoin remittance pilot in July 2023, marking a sustained effort to integrate blockchain infrastructure into traditional financial services.