Shinhan Financial Group is stepping up efforts to develop tokenized finance and digital asset infrastructure through expanded cooperation with the Canton Network, an institutional blockchain platform.
Shinhan Financial said Monday that Chairman and CEO Jin Ok-dong met with Digital Asset Co-Founder and CEO Yuval Rooz and Canton Foundation President Bib Dhivakar at the group's headquarters in central Seoul to discuss ways to strengthen cooperation in tokenized finance and digital asset infrastructure.
The meeting focused on expanding collaboration between Shinhan Financial and the Canton ecosystem, including the tokenization of financial products and connections between domestic and global financial markets.
Developed by Digital Asset, the Canton Network is designed to connect financial institutions and digital assets while maintaining transaction confidentiality and regulatory compliance. Major global financial institutions, including Goldman Sachs, HSBC, BNP Paribas and the Depository Trust & Clearing Corporation, participate in the network.
Shinhan Financial has been expanding its partnership with the Canton ecosystem throughout this year.
In June, the group signed a memorandum of understanding with the Canton Foundation to participate in the network's governance. In July, Shinhan Securities and Shinhan Venture Investment made strategic equity investments in Digital Asset.
Shinhan Asset Management was also approved this month as a Super Validator of the Canton Network, becoming the first Korean financial company to take on the role. Super Validators support the stable operation of the network and participate in key governance decisions.
Shinhan Financial plans to connect the digital asset capabilities of its affiliates. Discussions covered potential cooperation models linking the banking unit's payment and settlement infrastructure with Shinhan Securities' tokenized asset distribution capabilities and Shinhan Asset Management's real-world asset tokenization business.
The companies also discussed ways to improve global investors' access to Korean financial products by using the Canton Network to connect domestic financial markets with overseas financial institutions and tokenized assets.
Shinhan Financial plans to conduct technology verification in line with the institutionalization of security token offerings in Korea. It also aims to expand connections with overseas financial institutions and tokenized assets through the Canton Network.
“Tokenization is spreading as a new financial infrastructure in global markets, and our cooperation with Digital Asset and the Canton Foundation provides an important foundation for Shinhan Financial to proactively respond to changes in the future financial environment,” Jin said.
“We will responsibly prepare to expand connections with global digital asset infrastructure in line with regulatory developments and build a service foundation that customers can use safely and conveniently,” he added.
