Hanwha Asset Management Signs MOU with Solana Foundation to Expand Digital Asset Ecosystem

Hanwha Asset Management announced on January 23 that it has signed a memorandum of understanding (MOU) with the Solana Foundation to expand the digital asset ecosystem. Through this agreement, the company plans to establish a cooperative system with a global blockchain platform and strengthen its leading position in the digital asset sector.

To achieve this, Hanwha Asset Management will collaborate with the Solana Foundation in several areas: providing education on Solana tools and ecosystem, jointly launching Solana-based exchange-traded products (ETPs), and publishing guidelines for custody solutions suitable for Solana.

Lily Liu, Chair of the Solana Foundation, stated, "Korea is emerging as a key market for global virtual asset adoption, combining clear regulations, institutional investment infrastructure, and world-class development talent." She added, "This MOU with Hanwha Asset Management will connect the trusted infrastructure of a global conglomerate with the innovation of the Solana ecosystem, enabling digital asset innovation to expand worldwide through Hanwha's international network."

The Solana Foundation, which signed the MOU, is a core ecosystem builder in the global blockchain space. The foundation is a non-profit organization that supports the decentralization of the global Solana blockchain, builds ecosystem infrastructure, and responds to blockchain-related policies. Solana is building its ecosystem across various sectors, including decentralized finance (DeFi), non-fungible tokens (NFTs), and payments.

In the United States, Solana is expanding its reach through exchange-traded funds (ETFs). Starting with the launch of the Bitwise Solana Staking (BSOL) ETF at the end of October last year, eight Solana ETFs have been consecutively listed on the New York Stock Exchange. As a result, the total assets under management (AUM) of Solana ETFs surpassed 1 billion dollars within just over two months of their listing.

Hanwha Asset Management has played a pioneering role in the domestic asset management industry regarding digital assets. From 2020 to 2021, it was the first domestic asset management company to operate a digital asset team and published reports on digital assets. Last year, it established a Digital Asset Business Team under the Chief Marketing Officer (CMO) to analyze global digital asset market trends and blockchain technology trends.

Choi Youngjin, Vice President of Hanwha Asset Management, said, "I met with Lily Liu, Chair of the Solana Foundation, to discuss strategic collaboration for expanding the Solana ecosystem, and subsequently signed the MOU." He explained, "Through this agreement, we aim to take a leading role in driving digital income-based businesses utilizing the Solana ecosystem."

This content was produced with the assistance of AI translation services.