Shinhan Asset Management partners with Plume on tokenized fund pilot

Shinhan Asset Management and Plume will test a tokenized fund using a Korean won-denominated ultra-short-term bond fund as its underlying asset.

South Korea’s Shinhan Asset Management signed a memorandum of understanding (MOU) with tokenization-focused blockchain network Plume to develop a proof of concept for a Korean won-denominated tokenized fund.

The pilot project will use a Shinhan won-denominated ultra-short-term bond fund as its underlying asset and BlackRock’s BUIDL tokenized fund as a benchmark to test the issuance and distribution process, Shinhan said on Friday.

The companies will also test compliance requirements for tokenized investment products, including whitelist-based transfer restrictions, onchain operations, Know-Your-Customer checks and Anti-Money Laundering controls.

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