Shinhan Bank Moves to Add Digital-Asset Wallet to Super SOL App

Shinhan Bank is moving to add a digital-asset wallet to Shinhan Super SOL, the group’s integrated app.

Seoul Economy Daily reported on July 6 that the bank issued a bid notice on June 30 for consulting services covering the analysis and design of digital wallet infrastructure.

The project budget is 900 million won ($651,000), and the work is scheduled to be completed within three months of signing the contract. The goal is to analyze and design a digital-asset wallet buildout.

The selected consulting firm will carry out the project as part of a consortium with relevant technology specialists. The consortium will analyze domestic and overseas policy and regulation, establish a target architecture and operating model for the digital wallet, and draw up a phased implementation roadmap.

Shinhan Bank’s push to build a digital-asset wallet is widely viewed as a move ahead of legislative discussions in the second half of this year on the Digital Asset Basic Act.

Through the project, the bank aims to prepare for expansion in the digital-asset market, including won-denominated stablecoins, token securities (ST) and real-world assets (RWA). It also plans to review a structure linking traditional financial accounts with digital-asset wallets.

South Korea’s financial industry has been stepping up related infrastructure efforts amid debate over the Digital Asset Basic Act and the possibility of formalizing won-backed stablecoins.