Nikolas Sargeant
On Friday, the Solana team announced via X that Korea's Shinhan Asset Management is building a KRW tokenized fund on Solana, modeled on BlackRock's BUIDL.
The four-party MOU with Solana Foundation, Etherfuse, and Orca targets a tokenized RWA market at $36B today, projected by BCG to reach as much as $30 trillion by 2030.
The PoC covers the full issuance and distribution process, from KYC and AML to onchain liquidity design, ready to deploy when Korea's STO framework takes effect.
Solana is an integrated, open-source blockchain that synchronizes global information at the speed of light. The network is focused on fast transactions and high throughput to encourage mass consumer adoption of blockchain technology.
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
SOL is up 5.1% in the last 24 hours and trades at $90.22.
