Korea's institutional rails came online fast this week A megabank building a digital-asset wallet, a securities ruling for tokenized stocks, record on-chain transfer volume, and a won stablecoin opening the door to SpaceX. 1. BANKING · Shinhan Bank to Build Digital-Asset Wallet Into Super SOL App Shinhan Bank issued a 900 million won tender to design a digital-asset wallet inside its Super SOL super-app, supporting won stablecoins, STOs, and RWAs. Development could begin within the year, ahead of Korea's Digital Asset Basic Act in H2 2026. One of Korea's largest banks is wiring crypto custody straight into a mainstream retail app. 2. POLICY · Korea Rules Tokenized Stocks Are Securities, Preps 22% Tax Korea's FSC classified tokenized stocks as securities under the Capital Markets Act — not virtual assets — and the Ministry of Economy and Finance began preparing taxes: 15.4% on dividends and 22% on trading gains, matching overseas stocks. Full enforcement tracks the OECD's CARF framework from 2027. Regulatory clarity turns tokenized equities into an investable, taxable asset class. 3. MARKETS · Tokenized-Stock Transfers Surge 105% to $8.41B in a Month Global tokenized-stock transfer volume jumped 105% in a month to $8.41 billion, with market value up 43% to $2.16 billion and holders past 409,000, per Tokenized stocks outpaced every other real-world asset class, driven heavily by Korean demand. On-chain equities are scaling faster than any other RWA segment. 4. PAYMENTS · Won Stablecoin KRWQ Lists on Grow, Opening SpaceX Access KRWQ — a won-pegged stablecoin from IQ and Frax with Chainlink Proof of Reserve — listed on Grow, a platform of 500+ tokenized stocks, ETFs, and commodities. Korean-won holders can now gain on-chain exposure to SpaceX, OpenAI, and Anthropic. A won stablecoin becomes a direct bridge from Korean capital to private tech giants.