Shinhan Investment Prepares for Tokenization with 'K-BID' to Target On-Chain Market

Senior executive Choi In-su of Shinhan Investment Securities stated at a seminar held on November 11th in Yeongdeungpo, Seoul, that "the competition in tokenization will be determined not by what is issued but by who can repeatedly and sustainably issue it." According to the Korea Economic Daily, Shinhan Financial Group is exploring new products and business opportunities in line with the financial authorities' phased roadmap for security token offerings (STO), viewing tokenization as a step toward expanding overseas ventures. Shinhan Asset Management is advancing its 'K-BID (BUIDL)' initiative, benchmarking BlackRock's tokenized fund BUIDL to enable Korean assets to be utilized on-chain.

Choi highlighted three key reasons for focusing on tokenization: extended trading hours, changes in account structures, and improved payment processing efficiency.