Nhn Entertain

South Korea's Hanwha Investment & Securities, part of a conglomerate with roughly $200 billion in total assets, is building a tokenization platform on the Avalanche blockchain, but it is not acting alone. The platform, developed with FairSquare Lab since 2025, uses a dual-chain architecture with Avalanche for settlement and Hyperledger Besu for permissioned workflows, and Hanwha will participate in networks approved by the Korea Securities Depository, which is preparing its own multi-chain infrastructure. This coordinated institutional build spans securities firms, asset managers, and trading conglomerates, all targeting a February 2027 regulatory deadline set by the Financial Services Commission's three-phase tokenization roadmap unveiled on September 4. Hanwha is also the largest shareholder of Securitize with about 9.6% stake, and has invested in Xangle, Kresus, and raised its stake in Dunamu to 9.84% via a 597.8 billion won investment. Other players include Mirae Asset Global Investments, which signed an MOU with Ava Labs, POSCO International, which tokenized trade receivables, and NHN, which is building a payment blockchain, all converging on the same timeline. Avalanche hosts BlackRock's BUIDL fund with about $900 million in assets, and Progmat migrated Japan's largest security token platform to an Avalanche L1 covering over 452 billion yen, but the FSC's roadmap does not mandate a single blockchain, making Avalanche one of multiple options. South Korea's corporate crypto investment ban was lifted in January 2026, allowing listed companies to allocate up to 5% of shareholder equity annually to virtual assets, contrasting with the US, where regulatory clarity lags.