Shinhan Asset Management partners with Plume on tokenized fund pilot

cointelegraphPublicado a 2026-08-14Actualizado a 2026-08-14

Resumen

Shinhan Asset Management has signed an MOU with blockchain network Plume to create a proof-of-concept for a Korean won-denominated tokenized fund. The pilot will use one of Shinhan's ultra-short-term bond funds as the underlying asset and BlackRock's BUIDL fund as a benchmark to test issuance and distribution. Key objectives include testing the overseas viability of won-denominated products in onchain markets, which are currently dominated by dollar assets, and evaluating compliance processes such as transfer restrictions, KYC, and AML controls. This follows other Shinhan Group blockchain initiatives, including Shinhan Card's stablecoin payment tests with Solana and Shinhan Bank's 2023 stablecoin remittance pilot.

South Korea’s Shinhan Asset Management signed a memorandum of understanding (MOU) with tokenization-focused blockchain network Plume to develop a proof of concept for a Korean won-denominated tokenized fund.

The pilot project will use a Shinhan won-denominated ultra-short-term bond fund as its underlying asset and BlackRock’s BUIDL tokenized fund as a benchmark to test the issuance and distribution process, Shinhan said on Friday.

The companies will also test compliance requirements for tokenized investment products, including whitelist-based transfer restrictions, onchain operations, Know-Your-Customer checks and Anti-Money Laundering controls.

Shinhan said the pilot is intended to test the overseas use of won-denominated financial products in onchain markets that have largely developed around dollar-denominated assets.

In April, fellow Shinhan Financial Group affiliate Shinhan Card signed an MOU with the Solana Foundation to test stablecoin payment technology and explore the use of non-custodial wallets. Another group affiliate, Shinhan Bank, completed a stablecoin remittance pilot in July 2023.

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Preguntas relacionadas

QWhat is the primary objective of Shinhan Asset Management's partnership with Plume according to the article?

ATo develop a proof of concept for a Korean won-denominated tokenized fund.

QWhich specific Shinhan fund and which benchmark product will be used in the tokenized fund pilot project?

AThe pilot will use a Shinhan won-denominated ultra-short-term bond fund as its underlying asset and BlackRock's BUIDL tokenized fund as a benchmark.

QBesides issuance and distribution, what other key aspect of tokenized products will Shinhan and Plume test during the pilot?

AThey will test compliance requirements, including whitelist-based transfer restrictions, onchain operations, KYC checks, and AML controls.

QWhat broader purpose does the article state for piloting a won-denominated tokenized fund in onchain markets?

ATo test the overseas use of won-denominated financial products in onchain markets that have largely developed around dollar-denominated assets.

QWhat prior related activity involving Solana did another Shinhan Financial Group affiliate, Shinhan Card, undertake according to the article?

AShinhan Card signed an MOU with the Solana Foundation to test stablecoin payment technology and explore the use of non-custodial wallets.

Lecturas Relacionadas

Staking Inflation Reforms Trap Ethereum and Solana

The article discusses the "Morton's Fork" dilemma facing both Ethereum and Solana, where both blockchains must choose between two paths that lead to the same outcome: increased centralization of their validator networks. Ethereum researchers have proposed EIP-8363, a "Progressive Issuance Burn" plan. It would gradually increase the proportion of validator rewards burned as the total staked ETH rises, aiming to reduce new token issuance. If staking reaches 50% of the supply, rewards would drop to zero. This proposal has faced strong opposition from major staking service providers and DeFi platforms (e.g., Aave, ether.fi), as staking yields form a crucial base rate for DeFi leverage strategies. Critics argue slashing rewards would first hurt small, individual node operators due to fixed operational costs, accelerating centralization. Solana faces a similar challenge. Its validators have fixed costs but rely heavily on token issuance for rewards (only ~13% of validator income comes from fees). Two current proposals, SIMD-0550 and SIMD-0553, aim to accelerate the reduction of its inflation rate and increase fee burns, respectively. A vote concludes on August 18th. The core conflict is between large token holders (whose assets are diluted by issuance) and the concentrated staking industry that depends on high yields. While reducing issuance could curb the influx of capital into centralized staking services, it could also force out smaller validators first. The article concludes that as blockchains grow into large financial systems, underlying economic forces—yields, leverage, and operational costs—ultimately constrain their original design visions and push them toward centralization, regardless of the specific policy path chosen.

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