Asset manager plans Solana-linked ETPs, custody standards as Korea emerges as key crypto market
Hanwha Asset Management has signed a memorandum of understanding with the Solana Foundation to expand its digital asset ecosystem and deepen cooperation with a leading global blockchain platform, the company said Friday.
Under the agreement, Hanwha will provide education on Solana’s development tools and ecosystem, pursue the launch of Solana-based exchange-traded products, and publish custody guidelines tailored to Solana-linked assets. The partnership aims to strengthen Hanwha’s position in Korea’s fast-evolving digital asset market.
“Korea is emerging as a key market for global crypto adoption, where regulatory clarity, institutional infrastructure and world-class developer talent converge,” Lily Liu, president of the Solana Foundation, said in a statement.
“This MOU bridges the trusted infrastructure of a leading conglomerate with the innovation of the Solana ecosystem, enabling digital asset innovation to scale globally through Hanwha’s international network.”
The Solana Foundation is a nonprofit organization focused on decentralization, adoption and security of the Solana network, a high-performance blockchain used for payments, capital markets infrastructure and decentralized applications.
In the US, Solana exchange-traded funds began trading in late 2025, starting with the launch of the Bitwise Solana Staking ETF in October. Eight Solana-linked ETFs are now listed on the New York Stock Exchange, with combined assets under management surpassing $1 billion within just over two months of their debut.
Hanwha has positioned itself as an early mover in Korea’s asset management industry on digital assets. Between 2020 and 2021, it became the first domestic asset manager to operate a dedicated digital asset team and publish related research. Last year, the firm established a Digital Asset Business Team under the chief marketing officer to track global crypto market trends and blockchain technology.
“I met with President Liu to discuss strategic cooperation to expand the Solana ecosystem, which led to this agreement,” said Choi Young-jin, Hanwha Asset Management’s chief marketing officer. “Through this partnership, we aim to take a leading role in building digital income-oriented businesses leveraging the Solana ecosystem.”
jwc@heraldcorp.com
