TL;DR
- KRW Tokenization: Plume and Shinhan signed an MOU to test a KRW‑denominated tokenized fund for offshore demand.
- Regulatory Alignment: The POC examines whitelist controls, onchain mechanisms, and KYC/AML systems for global compliance.
- Plume’s Role: The network provides infrastructure, designs an isolated structure, and works with regulators while Shinhan supplies the underlying Won‑bond fund.
Plume and Shinhan Asset Management signed a Memorandum of Understanding to build a demonstration of a KRW‑denominated tokenized fund, marking a notable step in bringing Korean Won assets into the global onchain market. The initiative aims to show how regulated KRW‑based products can find offshore demand by supplying high‑quality Won‑denominated assets to a dollar‑heavy funding environment. For Plume, the project represents another chance to apply its infrastructure to a new category of institutional‑grade tokenization.
KRW Tokenization Moves Toward Global Integration
The pilot proof of concept will test how Won‑denominated financial products behave when introduced to overseas markets. Shinhan Asset Management will provide a fund tied to ultra‑short‑term Won bonds as the underlying asset, while Plume will run the technical POC to identify any issues that may emerge when tokenization functions operate offshore. Together, the two organizations plan to demonstrate regulatory alignment across the entire workflow, including whitelist‑based transfer controls, onchain mechanisms, and KYC/AML systems designed for global participation.
Shinhan’s CEO, Lee Seok‑won, emphasized that dollar‑based assets have long dominated onchain liquidity, but the time has come to explore how Korean Won‑based stablecoins or tokenized securities could attract overseas funds. He noted that early experiments in whitelisting, KYC, AML, and compliance will serve as valuable intellectual groundwork for Shinhan’s broader ambitions in global tokenized investment products.
Plume’s Role and the Structure of the POC
The network clarified that the demonstration is strictly a proof of concept, not an issuance or distribution effort. The design includes a fully isolated structure that blocks domestic acquisition both contractually and technically, with the network maintaining close communication with regulators throughout the process.
Plume’s suitability for the project stems from its U.S. SEC‑registered Transfer Agent license and its participation in the DTCC’s Digital Assets Solutions Industry Working Group. The POC itself will be conducted in a third jurisdiction. Chris Yin, CEO and co‑founder of Plume, said the collaboration marks an important step in connecting compliant, high‑quality KRW‑denominated assets to global investors, especially as demand grows for market integration beyond dollar‑based tokenization.
