Shinhan Financial Group Lays Foundation for Tokenization...Discusses Cooperation with Digital Asset and Canton Foundation

Meeting Held Between Chairman Jin Okdong and Digital Asset CEO
Reviewing Ways to Enhance Access to Korean Financial Products

Shinhan Financial Group discussed cooperation in tokenization finance with Digital Asset and the Canton Foundation.

Vivek Diwakar, CEO of the Canton Foundation (left), Jin Okdong, Chairman of Shinhan Financial Group, and Yuval Rooz, Co-founder and CEO of Digital Asset in the U.S., are posing for a commemorative photo after a meeting on the 29th at Shinhan Financial Group headquarters in Jung-gu, Seoul. Shinhan Financial Group

According to the financial industry on September 29, Shinhan Financial Group held a meeting at its headquarters in Jung-gu, Seoul, on this day with key executives including Yuval Rooz, co-founder and CEO of Digital Asset, and Vivek Divakar, Chairman of the Canton Foundation.

Digital Asset is the developer of the institutional blockchain "Canton Network," with the Canton Foundation supporting the network’s management and operations. Canton Network is designed to connect different systems and assets while maintaining the confidentiality of transaction information and regulatory compliance among financial institutions. Global financial institutions such as Goldman Sachs, HSBC, BNP Paribas, and the Depository Trust & Clearing Corporation in the United States are participating.

In this meeting, both sides discussed ways to collaborate by leveraging the group’s capabilities, including the banking sector’s payment and settlement infrastructure, the tokenization and distribution of securities assets, and the tokenization of real-world assets in asset management. They also reviewed ways to enhance global investors’ access to Korean financial products.

In June, Shinhan Financial Group signed a business agreement with the Canton Foundation to participate in network governance. This was followed in July by Shinhan Investment Corp. and Shinhan Venture Investment making strategic equity investments in Digital Asset. This month, Shinhan Asset Management received final approval as a “Super Validator,” participating in Canton Network’s major governance decisions.

Jin Okdong, Chairman of Shinhan Financial Group, said, “As tokenization spreads as new financial infrastructure in global financial markets, our cooperation with Digital Asset and the Canton Foundation forms an important foundation for Shinhan Financial Group to proactively respond to changes in the future financial environment.”

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