Shinhan targets on-chain market with won-based tokenization push

Choi In-soo, a division head at Shinhan Securities, said at a seminar in Seoul on Sept. 11 that tokenization will hinge less on what gets issued than on who has a structure capable of issuing repeatedly and sustainably. According to Edaily, Shinhan Financial Group is exploring new products and business opportunities in line with South Korean financial authorities’ step-by-step roadmap for security token offerings, and views tokenization as a step toward broader business expansion. Shinhan Asset Management is pursuing a "K-BUIDL" project benchmarked against BlackRock’s BUIDL tokenized fund to enable the use of won-denominated assets on-chain. Choi said the firm is focusing on tokenization for three reasons: extended trading hours, changes in account structures, and more efficient settlement processing.