Shinhan Asset Management Proposes Building Cash Assets First for KRW RWA Tokenization

Shinhan Asset Management Manager Park Sung-yeol stated at a summit held on the 11th at TwoIFC in Yeongdeungpo, Seoul, that in order to expand the KRW-based Real-World Asset (RWA) tokenization market, it is essential to first establish cash-like assets that can be used for payments and collateral. He emphasized the importance of preparing the infrastructure first rather than tokenizing attractive assets right away. Manager Park cited the tokenization fund 'BUIDL' from the U.S. firm BlackRock as an example, explaining that a foundation has been established for using collateral and reserve assets in on-chain finance. Shinhan Asset Management is planning to conceptualize money market fund (MMF)-type cash-like assets as the first KRW-based tokenized asset, aiming to gradually expand distribution channels through this. He proposed validating the initial business offshore first and suggested a structure where foreign institutional investors' funds are invested in domestic short-term assets. In the long term, there are plans to broaden the product range to include domestic bonds, stocks, and alternative assets based on the validated infrastructure.

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