Hanwha Asset Management announced on the 23rd that it has signed a strategic partnership with the Jito Foundation, a leader in the Solana ecosystem, to build an ETP (Exchange Index Product) infrastructure based on liquidity staking.
Choi Young-jin, vice president of Hanwha Asset Management, and Brian Smith, chairman of the Zito Foundation, recently met at Hanwha Asset Management's headquarters in Yeouido, Seoul, to discuss ways to cooperate for future business development.
This partnership aims for technical and institutional cooperation in designing institutional products in Korea, just like the 21Shares Jito Staked SOL ETP (JSOL), which was listed on Euronext in Europe in January this year.
The specific scope of cooperation includes ▲JitoSOL technological integration within the ETP structure ▲ verification of regulatory-based trusty solutions ▲ joint education and marketing content development ▲ risk management framework establishment ▲ regulatory compliance communication with relevant authorities. In particular, the two companies plan to focus on stably reflecting the dual profit structure unique to Zitosol, which combines staking compensation and MEV (Maximum Extractable Value) rewards, in the domestic investment environment.
In the global market, the launch of Zito Sol-based financial products is continuing. In Europe, JSOL ETP, co-launched by global cryptocurrency ETP issuer 21Shares and the Zito Foundation, is traded through traditional financial infrastructure. In the United States, asset management company VanEck has also submitted an S-1 registration report for Zitosol ETF (listed fund).
In Korea, the institutional foundation for virtual assets is sequentially being reorganized. This is why Hanwha Asset Management is paying attention to liquidity staking. Zitosol is the largest liquidity staking token in the Solana network, with a market capitalization of about $1.1 billion.
"Zito is a leading foundation in the Solana-based liquidity staking sector," said Choi Young-jin, vice president of Hanwha Asset Management. "Zito Sol is an innovative asset that provides high income and liquidity at the same time." "It will be an attractive alternative asset for retirement pension investors who want to diversify their portfolios," he added.
"Hanwha Asset Management is a dynamic partner who not only established a dedicated team for digital assets in Korea for the first time, but is also changing the game of the market through the 'PLUS' ETF brand," said Brian Smith, chairman of the Zito Foundation. "The experience of successfully settling regulatory-based investment products in the Korean market will be the best bridgehead for Zito Sol to enter the Korean institutional finance."
