More than 30 banks, asset managers, issuers and RWA infrastructure platforms have launched or announced tokenization initiatives involving Solana. Some products are already live, while others, including Shinhan Asset Management’s KRW fund, remain at the proof-of-concept stage.
Many people still see Solana mainly as a blockchain for meme coins, fast trading and speculative markets.
Financial institutions are beginning to see another possibility:
Solana could become a settlement rail for global financial assets.
Shinhan’s KRW Tokenized Fund
Shinhan Asset Management has signed a memorandum of understanding with the Solana Foundation, Etherfuse and Orca to test a Korean won-denominated tokenized fund.
The structure is modeled on BlackRock’s BUIDL fund, but it will focus on KRW-denominated ultra-short-term bonds and international institutional investors.
The proof of concept will examine the complete process:
- Investor verification and KYC/AML
- Token issuance
- Foreign-exchange compliance
- Blockchain operations and security
- Investor distribution
- Onchain liquidity
This is a non-binding agreement for a proof of concept. No fund size, yield target or commercial launch date has been announced.
However, the timing is important. Shinhan is preparing its infrastructure before South Korea’s Security Token Offering framework becomes fully operational.
Shinhan Is Not an Isolated Case
BlackRock’s BUIDL fund is already available on Solana through Securitize.
Franklin Templeton launched BENJI, representing shares in its onchain U.S. government money market fund. Apollo brought the ACRED credit fund to Solana. Hamilton Lane deployed SCOPE, while VanEck launched VBILL.
State Street and Galaxy Asset Management introduced SWEEP. Baillie Gifford and BNY launched the BAGEY bond fund. Neuberger Berman and Securitize introduced HINC.
J.P. Morgan has arranged commercial paper on Solana. Citigroup conducted a pilot for tokenized Bill of Exchange settlement on the network in February 2026.
The growing list also includes SBI Global Asset Management, Coinbase Asset Management, Mubadala Capital, Ondo Finance, Figure, Superstate, xStocks, Etherfuse, Spiko and many others.
Not all of these organizations have signed direct agreements with the Solana Foundation. Some operate live products, some are conducting pilots, and others provide issuance, custody, distribution, compliance or liquidity infrastructure.
This is not a list of 30 exclusive Solana contracts. It is evidence of a much broader financial ecosystem forming around the network.
More Than 2,600 RWA Assets
According to RWA.xyz, as of August 26, 2026, Solana recorded:
- Approximately $3.97 billion in distributed RWA value
- 2,678 RWA assets
- More than 349,000 RWA holders
- Approximately $3.05 billion in 30-day transfer volume
The number of assets is not the same as the number of institutional partners. However, it shows that tokenization on Solana has moved beyond small experiments.
Government bonds, money market funds, private credit, public equities, gold and other traditional assets are now entering the same blockchain economy.
Solana Is Applying for a Bigger Job
Speed and low transaction costs helped Solana become a major center for meme coin trading.
Those same characteristics are now being tested in a far more serious market: global real-world assets.
The question is no longer only:
How high could SOL go?
The bigger question is:
How much of the world’s capital markets could eventually operate on Solana?
Shinhan is one of the newest passengers.
But the tokenization train left the station long ago—and more major institutions are now climbing aboard.
Sources: Solana Foundation and RWA.xyz.
