Crypto14 August, 20262 min read
Shinhan Asset Management Partners With Plume on Won-Denominated Tokenized Fund Pilot
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Shinhan Asset Management signs MoU with Plume to pilot won-denominated tokenized fund. Underlying asset is Shinhan's won ultra-short bond fund; offshore issuance and regulatory feasibility tested.
7 outlets told this the same way.
Won Tokenized Fund Pilot
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 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 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.
Shinhan said the pilot is intended to test the overseas use of won-denominated financial products in onchain markets that have largely developed around dollar-denominated assets. In April, fellow Shinhan Financial Group affiliate Shinhan Card signed an MOU with the Solana Foundation to test stablecoin payment technology and explore the use of non-custodial wallets.
Compliance and On-Chain Rules
Bloomingbit reported that Shinhan Asset Management and Plume plan to jointly assess tokenization feasibility in offshore markets while applying regulatory compliance requirements across the full issuance and distribution process. The project will benchmark BlackRock’s BUIDL tokenized fund model and apply it to won-based assets, while examining technical feasibility and regulatory compliance requirements. Bloomingbit said the companies will test an on-chain operating structure that includes whitelist-based transfer restrictions, know-your-customer checks and anti-money laundering controls.
Bloomingbit also quoted Shinhan Asset Management chief executive officer Lee Seok-won saying the next step is to build a foundation to draw overseas capital into South Korea through won-based stablecoins and tokenized securities. Plume Network chief executive officer Chris Yin said the partnership will test whether won-denominated assets can be used globally within a compliant framework.
Bitcoin Treasuries and Scale
Gemini has built up a corporate Bitcoin treasury totaling 5,528 BTC, and Crypto Briefing said at current market prices that stash is worth roughly $324M. Crypto Briefing reported that approximately 80% of that Bitcoin position was financed through borrowing from the Winklevoss twins themselves, with Cameron and Tyler Winklevoss lending Bitcoin to their own company. Crypto Briefing also said that in April 2026, roughly 572 BTC worth approximately $43M was transferred to Gemini custody addresses.
The same source said Gemini Space Station holds between 3,839 and 4,827 BTC with valuations ranging from $240M to $306M. Separately, TradingView noted that Shinhan Asset Management’s won-denominated tokenized fund pilot will test compliance requirements including Know-Your-Customer checks and Anti-Money Laundering controls as part of its proof-of-concept.