Hanwha Asset Management signs strategic MOU with the Solana Foundation

Hanwha Asset Management said on the 23rd that it has signed a strategic memorandum of understanding (MOU) with the Solana Foundation to expand the digital-asset ecosystem.

Through the agreement, Hanwha Asset Management plans to build a cooperative framework with a global blockchain platform and strengthen its leading position in the digital-asset sector. The two sides plan to cooperate across a range of areas, including ▲education on Solana tools and the broader ecosystem ▲collaboration on launching Solana-based exchange-traded products (ETPs) ▲publishing guidance on custody solutions suitable for the Solana network.

The Solana Foundation is a non-profit organization that supports the decentralization of Solana—a global blockchain network—ecosystem infrastructure development and responses to blockchain policy. Starting with the launch of the 'Bitwise Solana Staking (BSOL) ETF' in late October last year, eight Solana-related ETFs were listed in succession on the New York Stock Exchange, pushing total assets under management (AUM) for Solana ETFs past $1 billion in just over two months after listing.

Hanwha Asset Management has focused on the digital-asset space relatively early among domestic asset managers. In 2020–2021, it became the first domestic asset manager to operate a digital-asset team and publish related reports, and last year it launched the Digital Assets Business Team under the chief marketing officer (CMO) to analyze global digital-asset market trends and blockchain technology trends.

Lily Liu, chair of the Solana Foundation, said, "Korea is emerging as a key market for global crypto-asset adoption, combining a clear regulatory environment, institutional investment infrastructure and world-class developer talent," adding, "This MOU with Hanwha Asset Management will serve as an opportunity to connect the trusted financial infrastructure of a global conglomerate with technological innovation in the Solana ecosystem." She added, "We expect to be able to scale digital-asset innovation worldwide through Hanwha's international network."

Choi Young-jin, vice president of Hanwha Asset Management, said, "After meeting with Lily Liu, chair of the Solana Foundation, to discuss strategic collaboration to expand the Solana ecosystem, we signed this MOU," adding, "We will take a leading role in driving digital income-type businesses leveraging the Solana ecosystem."