Woofun AI reports that Shinhan Bank has initiated an offshore pilot for a Korean won tokenized fund on Solana, structurally mirroring BlackRock's BUIDL architecture to capture early demand in the real-world asset sector. This strategic launch positions the bank to compete directly within a landscape projected to reach $30 trillion by 2030, utilizing ultra-short-term bonds as the underlying asset for global investors.

The operational framework relies on a four-party agreement signed between Shinhan, the Solana Foundation, Etherfuse, and Orca. This consortium is currently testing the full lifecycle of the product, including KYC, AML, and foreign exchange compliance protocols. Orca is tasked with providing on-chain liquidity for conversions, ensuring that the pilot meets the institutional standards established by BlackRock's ecosystem while validating how won-denominated assets function in international markets.

Woofun AI data shows that Solana's dominance in the tokenization sector justified its selection as the preferred network. The chain ranks third globally with $3.86 billion in distributed RWA assets and leads in total project count with 2,678 launches.

Furthermore, stablecoin capitalization on the network exceeds $15.9 billion, reinforcing its role as a high-volume settlement environment. BlackRock's USD Institutional Digital Liquidity Fund holds $695 million on Solana, making it the network's largest RWA product, while other major issuers including Janus Henderson, Ondo, and State Street rely on the same blueprint.

CEO Lee Seok-won stated that Shinhan aims to become a leading issuer of won-denominated digital products, though all current operations remain offshore and limited to technical validation. This cautious approach is necessitated by South Korea's regulatory timeline, as STO regulations will not take effect until February 2027. Consequently, the bank is building infrastructure ahead of domestic clarity to ensure readiness for future integration.

This proactive infrastructure development aligns with BCG's projection that RWAs will expand from $36 billion to $30 trillion by 2030. By establishing these offshore capabilities now, Shinhan is positioning Solana as a strong candidate for future integration with Korean capital. This marks a significant step toward institutionalizing won-denominated assets on public blockchains.