Shinhan Financial Group is set to expand its tokenized finance and digital asset infrastructure initiatives. The group plans to enhance its collaboration in the global digital asset market by integrating the capabilities of its subsidiaries, from banking payment and settlement to the tokenization of securities and physical asset management.
On September 29, Shinhan Financial Group announced that it met with key executives, including Yuval Rooz, co-founder and CEO of Digital Asset, and Vivek Diwakar, head of the Canton Foundation, to discuss cooperation in the fields of tokenized finance and digital asset infrastructure.
The two sides agreed to connect the group's payment and settlement systems, tokenized asset distribution, and physical asset tokenization, while also expanding technology validation and connections with overseas tokenized assets and financial institutions in line with the domestic token securities system.
Digital Asset is the developer of the institutional blockchain 'Canton Network,' with the Canton Foundation supporting the network's management and operation.
In June, Shinhan Financial signed a memorandum of understanding to participate in the governance of the Canton Foundation. In July, Shinhan Investment Corp. and Shinhan Venture Investment made strategic equity investments in Digital Asset, further strengthening their collaboration. This month, Shinhan Asset Management became the first domestic financial institution to receive final approval as a 'Super Validator,' a key operational and governance entity of the Canton Network.
Jin Ok-dong, chairman of Shinhan Financial, stated, "As tokenization spreads as a new financial infrastructure in the global financial market, our collaboration with Digital Asset and the Canton Foundation is a crucial foundation for Shinhan Financial to proactively respond to changes in the future financial environment. We will responsibly prepare to expand connections with global digital asset infrastructure in line with regulatory improvements, ensuring a safe and convenient service foundation for our customers."
* This article has been translated by AI.
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