Shinhan Asset Management Pushes to Participate as a Core Node in Global Blockchain 'Canton Network'

[Financial News] Shinhan Asset Management will serve as a core node in Korea for the 'Canton Network,' a blockchain platform involving global financial institutions. The company plans to participate in the ecosystem in stages, timed with the establishment of domestic regulations regarding tokenized securities.
Shinhan Asset Management announced on the 14th that a plan to perform the role of 'Super Validator' in Korea has been finally approved in accordance with the Canton Network's governance procedures.
Simply put, a Super Validator is a role in which a financial institution participates as a core operator of a blockchain network. They support the stable operation of a distributed ledger, where transaction information is recorded across multiple participating institutions, and participate in decision-making regarding network operations and key policies. They can perform this role without holding any separate virtual assets.
This decision is a follow-up to the Memorandum of Understanding (MOU) signed last June between Shinhan Asset Management and the Canton Foundation to establish a governance participation framework. Since then, both parties have discussed detailed conditions for participation in the ecosystem within Korea and recently concluded consultations.
Shinhan Asset Management is not immediately launching official activities on the Canton Network. It will focus on its proprietary tokenization technology and proof of concept (PoC) until domestic laws regarding tokenized securities come into effect and subordinate regulations and detailed guidelines from financial authorities are established. The plan is to gradually engage in official activities within the permissible scope following the regulatory overhaul.
The Canton Network is an institutional blockchain network involving global financial institutions such as Nasdaq, The Depository Trust & Clearing Corporation (DTCC), Goldman Sachs, HSBC, and BNP Paribas. It is characterized by a design that connects systems between financial institutions while protecting the privacy of transaction information.
"We are currently closely monitoring the process of refining domestic regulations," an official from Shinhan Asset Management said. "Once the digital financial market fully establishes itself within the regulatory framework, it will serve as a foundation to safely introduce digital financial products and services that meet global standards."

[email protected] Bae Hangeul Reporter