Shinhan AM signs won tokenized fund PoC partnership with Plume

Shinhan Asset Management said on Aug. 14 it signed an MOU with Plume Network, a global blockchain network focused on RWA, for a proof-of-concept partnership on a won-denominated tokenized fund. The company said the project is meaningful in that a South Korean asset manager plans to supply won-denominated high-quality assets to an on-chain capital market centered on U.S. dollars and directly generate offshore demand for won-based assets. It added that global on-chain capital markets have now exceeded $300 billion in stablecoin issuance outstanding, while the use of won-denominated assets remains at an early stage. To measure the overseas usability of won-denominated financial investment products, the two sides will use Shinhan Asset Management’s won ultra-short bond-related fund as the underlying asset. Benchmarking BlackRock’s BUIDL, described in the source as the world’s largest asset manager’s flagship tokenized fund, they plan to conduct a proof of concept for the full process of issuing and distributing a tokenized fund in an offshore market in a third country.