Shinhan Bank Teams with Solana Foundation, Etherfuse, and Orca on Won‑Denominated Tokenized Fund Pilot

Shinhan Bank, one of South Korea’s leading financial institutions, announced a collaboration with the solana">Solana Foundation, blockchain infrastructure provider Etherfuse, and decentralized exchange Orca. The partnership will develop a proof‑of‑concept (PoC) for creating and distributing a tokenized investment fund denominated in Korean won (KRW).

Scope of the Proof‑of‑Concept

The PoC will focus on the end‑to‑end process of issuing a KRW‑backed token, handling investor onboarding, compliance checks, and settlement on the Solana blockchain. The goal is to demonstrate how traditional fund structures can be digitized while maintaining regulatory standards.

Key Partners and Their Roles

• Shinhan Bank: Provides the financial backing, regulatory compliance framework, and access to institutional investors.
• Solana Foundation: Supplies the underlying blockchain infrastructure, ensuring high throughput and low transaction costs.
• Etherfuse: Offers token issuance and smart‑contract tooling to create the KRW‑denominated asset.
• Orca: Facilitates liquidity provision and secondary market trading for the tokenized fund.

Potential Impact

If successful, the pilot could pave the way for broader adoption of tokenized funds in South Korea, offering faster settlement, reduced custody costs, and greater accessibility for retail and institutional investors.