Hanwha Asset Management will cooperate with the Jito Foundation to develop an exchange-traded product using JitoSOL, a liquid staking token based on the Solana blockchain, The Block reported on Feb. 23 local time.
The partnership focuses on laying technical and regulatory foundations for developing financial products using JitoSOL.
Hanwha Asset Management said, "JitoSOL is an innovative asset that provides high profitability and liquidity at the same time," adding it would be an attractive alternative for retirement pension investors seeking portfolio diversification.
Hanwha Asset Management plans to focus on integrating JitoSOL into the ETP structure, validating regulated custody solutions and establishing a risk management framework.
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Chi-gyu Hwang
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