Last week two Korean financial groups inked tokenization collaboration deals with the Canton Network, the privacy-focused public blockchain that is popular with institutions. In one announcement the Canton Foundation is collaborating with the Shinhan Financial Group, including Shinhan Asset Management and Shinhan Investment & Securities. The other memorandum of understanding was with KB Securities and DLT infrastructure firm Wavebridge.
Shinhan Asset Management made clear that its goal is distribution. “We expect this to be an opportunity to introduce our products to offshore investors in the global market,” said Lee Seok-won, CEO of Shinhan Asset Management. The securities arm intends to participate in Canton Network governance.
Initially, the KB Securities and Wavebridge deal is more domestically focused, with plans to explore international collaborations in the medium term. Wavebridge, licensed as a virtual asset service provider, is positioning itself as an institutional digital asset prime broker and settlement infrastructure provider for stablecoins.
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