Shinhan Asset Management Launches Tokenized Fund Pilot With Plume

South Korea’s Shinhan Asset Management has signed a memorandum of understanding with blockchain network Plume to develop a proof of concept for a tokenized fund denominated in Korean won. The pilot will use a Shinhan won-based ultra-short-term bond fund as the underlying asset, with BlackRock’s tokenized fund used as a benchmark for testing issuance and distribution.

Compliance and Regulatory Testing Included

The companies plan to test compliance features required for tokenized investment products, including whitelist-based transfer restrictions, onchain operations, know-your-customer checks, and anti-money laundering controls. Shinhan said the goal is to explore how won-denominated financial products can function in onchain markets, which have largely developed around dollar-based assets.

Part of Wider Group Blockchain Push

The move follows other blockchain initiatives from Shinhan Financial Group affiliates, including a stablecoin payment technology partnership and an earlier completed stablecoin remittance pilot with Asian partners.