South Korea's Shinhan Bank partners with Solana Foundation and Orca to issue tokenized funds denominated in Korean won.
RWA & Tokenization ·
Shinhan Bank, a major South Korean financial institution, has partnered with the Solana Foundation, Etherfuse, and Orca to issue tokenized funds in the country. The tokenized funds will be denominated in Korean won, marking a move by a traditional bank into blockchain-based asset issuance on the Solana network.
The collaboration brings together a legacy banking entity with blockchain infrastructure providers and developers. Orca operates as a decentralized exchange on Solana, while the Solana Foundation provides ecosystem support and governance oversight. Etherfuse's specific role in the partnership has not been detailed in available reporting.
The arrangement represents one of the first instances of a major South Korean bank directly issuing tokenized financial products on a public blockchain. Whether additional tokenized products or expansion to other asset classes will follow remains unclear, as does the full regulatory framework under which these funds will operate.