Key Takeaways
- • Hanwha Asset Management signed a memorandum of understanding with the Solana Foundation to develop Solana-based exchange-traded products (ETPs), establish institutional custody standards, and provide developer education within South Korea's digital asset market.
- • The partnership positions Hanwha to launch Solana-linked ETPs in Korea, following the successful U.S. debut of eight Solana ETFs listed on the NYSE that accumulated over $1 billion in assets under management within two months of launch (beginning October 2025).
- • Hanwha will publish custody guidelines tailored to Solana-linked assets, establishing institutional-grade infrastructure standards critical for attracting institutional capital to the Solana ecosystem in South Korea.
- • South Korea is positioned as a key market for crypto adoption due to regulatory clarity, institutional infrastructure, and developer talent, with Hanwha leveraging its conglomerate-backed international network to scale digital asset innovation globally.
- • Hanwha has maintained early-mover status in Korea's asset management industry on digital assets since 2020-2021, when it established the first dedicated domestic digital asset team and published related research.
Summary
Hanwha Asset Management has formalized its expansion into the Solana ecosystem through a memorandum of understanding with the Solana Foundation, signed January 24, 2026. The partnership targets three primary objectives: launching Solana-based exchange-traded products in South Korea, developing institutional-grade custody frameworks and guidelines for Solana-linked assets, and providing education on the Solana development platform and ecosystem to market participants.
The timing aligns with demonstrated institutional adoption of Solana infrastructure globally. In the U.S. market, Solana exchange-traded funds commenced trading in late 2025, beginning with the Bitwise Solana Staking ETF in October. The asset class has experienced rapid capital accumulation, with eight Solana-linked ETFs currently listed on the New York Stock Exchange holding combined assets exceeding $1 billion within just over two months of their October 2025 debut.
Lily Liu, president of the Solana Foundation, framed the partnership as a strategic entry point into South Korea's institutional market. "Korea is emerging as a key market for global crypto adoption, where regulatory clarity, institutional infrastructure and world-class developer talent converge," Liu stated. The agreement bridges Hanwha's infrastructure as a leading conglomerate-backed asset manager with Solana's blockchain platform—used for payments, capital markets infrastructure, and decentralized applications—to scale digital asset innovation through Hanwha's international distribution network.
Hanwha has positioned itself as an institutional pioneer in Korean digital asset management. Between 2020 and 2021, the company became the first domestic asset manager to establish a dedicated digital asset team and publish related research. The Solana Foundation partnership reinforces this trajectory while capitalizing on the convergence of regulatory clarity and institutional appetite in South Korea's rapidly evolving digital asset market.
The timing aligns with demonstrated institutional adoption of Solana infrastructure globally. In the U.S. market, Solana exchange-traded funds commenced trading in late 2025, beginning with the Bitwise Solana Staking ETF in October. The asset class has experienced rapid capital accumulation, with eight Solana-linked ETFs currently listed on the New York Stock Exchange holding combined assets exceeding $1 billion within just over two months of their October 2025 debut.
Lily Liu, president of the Solana Foundation, framed the partnership as a strategic entry point into South Korea's institutional market. "Korea is emerging as a key market for global crypto adoption, where regulatory clarity, institutional infrastructure and world-class developer talent converge," Liu stated. The agreement bridges Hanwha's infrastructure as a leading conglomerate-backed asset manager with Solana's blockchain platform—used for payments, capital markets infrastructure, and decentralized applications—to scale digital asset innovation through Hanwha's international distribution network.
Hanwha has positioned itself as an institutional pioneer in Korean digital asset management. Between 2020 and 2021, the company became the first domestic asset manager to establish a dedicated digital asset team and publish related research. The Solana Foundation partnership reinforces this trajectory while capitalizing on the convergence of regulatory clarity and institutional appetite in South Korea's rapidly evolving digital asset market.
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