South Korean asset manager Shinhan Asset Management has announced the development of a pilot tokenized fund denominated in Korean won on the Solana blockchain, focused on ultra-short-term bonds for offshore institutional investors. The group signed a four-party agreement with the Solana Foundation, fintech platform Etherfuse and decentralized exchange Orca to test the entire operational cycle, including customer verification, anti-money laundering compliance and foreign exchange procedures. Solana ranks third globally by the value of distributed real-world assets at $3.86 billion, and leads by the number of launched projects with 2,678 compared to Ethereum’s 2,268. Shinhan’s product will be deployed offshore pending security token offering regulations, which will not take effect in South Korea until February 2027. According to Boston Consulting Group projections, the global real-world asset market is expected to grow from $36 billion to $30 trillion by 2030.
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