--- title: "Shinhan Bank Furthers Digital Transformation Plans, Joins Hedera Governing Council" id: "16098" type: "post" slug: "shinhan-bank-furthers-digital-transformation-plans-joins-hedera-governing-council" published_at: "2021-04-13T00:00:00+00:00" modified_at: "2025-12-10T04:53:44+00:00" url: "https://hedera.com/blog/shinhan-bank-furthers-digital-transformation-plans-joins-hedera-governing-council/" markdown_url: "https://hedera.com/blog/shinhan-bank-furthers-digital-transformation-plans-joins-hedera-governing-council.md" excerpt: "Seoul, Korea and Dallas, TX – 14 April 2021 – Shinhan Bank (KRX: 055550), the leading bank in South Korea, has joined the Hedera Governing Council, the body that oversees distributed governance of the Hedera network." taxonomy_category: - "Uncategorized" taxonomy_post_tag: - "news" --- [Skip to content](#content) blog # Shinhan Bank Furthers Digital Transformation Plans, Joins Hedera Governing Council April 13, 2021 ![Hedera Team](/wp-content/uploads/2025/12/HH-logo-Black.jpg) Hedera Hedera provides secure, scalable infrastructure for real-world decentralized applications in finance, AI, and sustainability, governed by global enterprises. **Seoul, Korea and Dallas, TX – 14 April 2021 –**Shinhan Bank (KRX: 055550), the leading bank in South Korea, has joined the Hedera Governing Council, the body that oversees distributed governance of the Hedera network. Shinhan Bank is a leader in leveraging distributed ledger technology (DLT) to drive financial innovation. In January of this year, Shinhan invested in Korea Digital Asset Custody (KDAC), an industry consortium of businesses that provide digital-asset custody service. In March, Shinhan completed a demonstration platform for central bank digital currencies (CBDCs), together with LG CNS. Officials at Shinhan Bank said, “Our clients and partners are increasingly interested in the benefits that digital transformation can provide for improving the efficiency and security of financial systems. Hedera’s public distributed ledger in particular is uniquely suited to meet the needs of a widely-used fintech service that must be fast, fair, secure, and enable the controls and visibility required by service providers. We are excited to join the Hedera Governing Council to continue to work with leading global organizations in diverse industries on solutions that will underpin the next generation of finance.” With the Hedera network acting as the underlying infrastructure, Shinhan Bank is expected to increase the efficiency of its internal processes. Since 2017, Shinhan has built various services, including Policy Loan, Pension Fund and Interest Rate Swap deals, on the Hyperledger Fabric private blockchain. Now, as many fintech services begin to operate on public DLTs, Shinhan hopes its innovation in banking services can be continued and accelerated by building more services on the Hedera public distributed ledger. In March, another council member, IBM, announced the [IBM Blockchain Platform](https://www.ibm.com/blockchain/platform?utm_medium=OSocial&utm_source=Blog&utm_content=000026VG&utm_term=10005805&utm_id=Creating-a-more-interoperable-blockchain-future-In-Text) Tech Preview with Hedera Hashgraph, representing a step towards increased interoperability for enterprise blockchain networks looking for the transparency of public ledgers, but the privacy of permissioned networks. The Tech Preview demonstrates the importance and value of public consensus derived from the use of the Hedera Consensus Service working on top of the IBM Blockchain Platform built on top of [Hyperledger Fabric](https://www.ibm.com/blockchain/hyperledger?utm_medium=OSocial&utm_source=Blog&utm_content=000026VG&utm_term=10005805&utm_id=Creating-a-more-interoperable-blockchain-future-In-Text) for permissioned transaction processing. The combination allows organizations of all kinds, including financial services firms, to take accountability, auditability, and trust to the next level. Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “We see increased interest from financial institutions and governments worldwide in DLT-based financial services for a number of reasons, including increasing the safety and efficiency of wholesale and retail payment systems, facilitating round-the-clock global settlements, enabling a cashless society, providing a more trusted system than private e-money, and helping in the financial inclusion of the bank-less population. We are thrilled that Shinhan Bank has joined the Hedera Governing Council, and look forward to working with them to be on the leading edge of the future of finance.” For more information, visit [https://www.ibm.com/blogs/blockchain/2021/03/creating-a-more-interoperable-blockchain-future/](https://www.ibm.com/blogs/blockchain/2021/03/creating-a-more-interoperable-blockchain-future/) ### **About Hedera Hashgraph** Hedera is a decentralized enterprise-grade public network on which anyone can build secure, fair applications with near real-time finality. The platform is owned and governed by a council of the world’s leading organizations including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, EDF, eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group. For more information, visit[https://hedera.com/](https://hedera.com/) [www.hedera.com](https://hedera.com/) , or follow us on Twitter at[https://twitter.com/hedera/](https://twitter.com/hedera/) [@hedera](https://twitter.com/hedera/) , Telegram at[https://t.me/hederahashgraph/](https://t.me/hederahashgraph/) [t.me/hederahashgraph](https://t.me/hederahashgraph/) , or Discord at[https://hedera.com/discord/](https://hedera.com/discord/) [www.hedera.com/discord](https://hedera.com/discord/) . The Hedera whitepaper can be found at[https://hedera.com/papers/](https://hedera.com/papers/) [www.hedera.com/papers](https://hedera.com/papers/) . **About Shinhan Bank** Shinhan Bank is a leading commercial bank in South Korea with KRW 471.5 trillion in assets. The company provides full range of banking services to its 20 million customers – individual consumers, SMEs and large corporations- with 1,032 branches including 156 global branches in twenty countries; the company also serves its 11.9 million mobile users with its award-winning app ‘SOL.’ The company’s financial group ‘Shinhan Financial Group’ is a diversified holding company with 17 companies inlcuding Shinhan Card, Shinhan Investment and Shinhan Life. The financial group’s stock (KRX:055550) is listed on the Korea Exchange. **For Media Enquiries** Andrew Kim E: [flavono@shinhan.com](mailto:flavono@shinhan.com) Zenobia Godschalk E: pr@hedera.com [Back to Blog](/blog) discover See more articles [View All](/blog) ![WISeKey-SpaceDev](https://hedera.com/wp-content/uploads/2026/09/WISeKey-SpaceDev-1024x576.jpg) September 4, 2026 ### Hedera Council Grows Partner Network with New Strategic and Community Partners WISeKey joins as a Strategic Partner, bringing deep expertise in cybersecurity, digital identity, and IoT, alongside new Community Partner SpaceDev, a Latin American software company expanding Hedera’s reach and adoption [Read More](https://hedera.com/blog/hedera-council-grows-partner-network-with-new-strategic-and-community-partners/) ![Image](https://hedera.com/wp-content/uploads/2026/08/V1-1024x576.png) August 31, 2026 ### x402 bounty on Hedera winners announced Meet the five winners of the x402 bounty on Hedera. Each received $1,000 for open source pay-per-request builds running on Hedera testnet. [Read More](https://hedera.com/blog/x402-bounty-on-hedera-winners-announced/) ![Image](https://hedera.com/wp-content/uploads/2026/08/Regulation_Blog-1024x576.png) August 5, 2026 ### Details decide. What digital asset policy did in July 2026 Halfway through 2026, the regulatory picture is coming into focus. Hedera Chief Policy Officer Nilmini Rubin and VP Global Policy Isadora Arredondo break down what moved in June across the [Read More](https://hedera.com/blog/details-decide-what-digital-asset-policy-did-in-july-2026/) ## Ready to get started? Discover why Hedera is the trusted institutional-grade network powering the new digital economy. [Start Building](/start-building) [Contact](/contact) We use cookies to deliver the best experience on our website and to analyze traffic. By continuing to use this site, you consent to our cookie policy. 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