Shinhan Asset Management, Canton Network Obtains Approval for ‘Super Validator’ Role in Korea

Performs the role of ‘super validator’, a key node in Korea

(Seoul = Yonhap News) Reporter Kang Su-ji = Shinhan Asset Management announced on the 14th that it has received approval to serve as a 'super validator', a key node in Korea for the Canton Network, a global blockchain platform for institutions.

A super validator is a role that supports network operation and participates in governance decisions without holding virtual assets. It is similar to the way financial institutions participate as nodes in the token securities distributed ledger.

This decision is a follow-up to the business agreement on establishing a governance participation framework signed between Shinhan Asset Management and the Canton Foundation in June. The two sides completed negotiations on major terms related to the partnership in Korea.

Shinhan Asset Management plans to focus on its own tokenization technology and proof-of-concept (PoC) until domestic token securities-related laws, subordinate regulations, and guidelines from financial authorities are established. Once the laws and the government's policy become concrete, Canton network-related activities will begin in stages within the permitted scope.

Canton Network is a blockchain network that provides interoperability and privacy protection functions for financial institutions. Global financial institutions such as NASDAQ, DTCC, Goldman Sachs, HSBC, and BNP Paribas are participating.

Shinhan Financial Group plans to expand its participation in the Canton network-related ecosystem by linking with major affiliates such as Shinhan Investment & Securities and Shinhan Fund Partners.