Shinhan Financial expands tokenized finance cooperation with Digital Asset, Canton Foundation

Shinhan Financial Group will expand its tokenized finance cooperation with Digital Asset, the US company behind the Canton Network, an institutional blockchain platform. The two sides discussed ways to connect the group's banking settlement and clearing operations, securities-side tokenized asset distribution, and asset management capabilities for real-asset tokenization.

Shinhan Financial said Chairman Jin Ok-dong met Tuesday at the group's headquarters in Jung-gu, Seoul, with Digital Asset co-founder and CEO Yuval Rooz and Canton Foundation head Vivek Diwaker to discuss digital asset infrastructure cooperation.

The meeting was an opportunity to define concrete areas of group-wide collaboration, building on Shinhan Financial's earlier MOU with the Canton Foundation, its equity investment in Digital Asset, and its participation in network operations.

The Canton Network, developed by Digital Asset, is an institutional blockchain designed to connect different systems and assets while maintaining transaction confidentiality and regulatory compliance among financial institutions. Global financial institutions including Goldman Sachs, HSBC, BNP Paribas and the Depository Trust & Clearing Corporation participate in the network, with the Canton Foundation supporting its operations.

Shinhan Financial signed an MOU with the Canton Foundation in June to participate in network governance. In July, Shinhan Securities and Shinhan Venture Investment made strategic equity investments in Digital Asset. This month, Shinhan Asset Management became the first domestic financial firm to be approved as a "super validator," a role that involves participating in network operations and key decision-making.

The two sides also reviewed ways to improve global investors' access to Korean financial products. Shinhan Financial plans to pursue technology verification in line with the domestic STO regime and expand linkages with overseas tokenized assets and financial institutions through the Canton Network.

"We will responsibly prepare to expand our connections with global digital asset infrastructure in step with regulatory developments, and build a service foundation that customers can use safely and conveniently," Jin said.