Plume, Shinhan test KRW tokenized fund in offshore PoC

Plume and Shinhan Asset Management signed a memorandum of understanding on Aug. 14 to test a KRW denominated tokenized fund backed by one of Shinhan’s won ultra short term bond funds. Summary Plume and Shinhan will test a KRW-denominated tokenized fund using ultra-short-term bond assets offshore only. The proof of concept will not issue or distribute tokens and excludes Korean residents entirely. South Korea’s security token amendments passed in January and take effect on February 4, 2027. Shinhan and Plume will test whitelist controls, KYC, AML, and onchain operating requirements together offshore. Kimber Transfer Agency filed its SEC transfer agent registration in August 2025, accepted in September. The project is a proof of concept only. Shinhan said it will not involve actual issuance or distribution and will run through an isolated structure in a third jurisdiction that blocks Korean residents contractually and technically. The companies plan to test the technical and compliance requirements needed to move the fund structure onchain. Those tests will include whitelist based transfer restrictions, know your customer checks, anti money laundering controls and onchain operating p...