Plume, Shinhan test KRW tokenized fund in offshore PoC
Plume and Shinhan Asset Management signed a memorandum of understanding on Aug. 14 to test a KRW denominated tokenized fund backed by one of Shinhans won ultra short term bond funds. The project is a proof of concept only. Shinhan said it will not involve actual issuance or distribution and will run through an isolated structure in a third jurisdiction that blocks Korean residents contractually and technically. The companies plan to test the technical and compliance requirements needed to move the fund structure onchain. Those tests will include whitelist based transfer restrictions, know your customer checks, anti money laundering controls and onchain operating processes. Shinhan said the goal is to assess whether won denominated investment products could eventually reach offshore markets through tokenized infrastructure. The MOU records the companies intent to cooperate and does not commit them to a commercial issuance. Plume and Shinhan Asset Management, Koreas leading asset manager with KRW 133.6 trillion in AUM, have signed an MOU to develop a proof of concept for a KRW-denominated tokenized fund, with Won ultra-short-term bonds as the underlying. Plume and Shinhan will benchmark BlackRocks BUIDL model Shinhan said the project will benchmark BlackRocks BUIDL tokenized fund model while using its own KRW ultra short term bond