DOS Chain RWA

Vietnam's first tokenized securities infrastructure - ERC-3643 issuance, on-chain KYC/AML, AI-powered compliance & investment advisory, running on a sovereign Avalanche L1

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DOS Chain - Digital Assets & Tokenized Securities

Submission for: Qwen AI Build Day x Shinhan Future's Lab - Track SS6: Digital Assets & Tokenized Securities

Item Detail
Partner / Challenger Shinhan Future's Lab Vietnam (backed by Shinhan Securities VN Strategy Division)
Track SS6 - Digital Assets & Tokenized Securities
Track Challenge "Next-generation financial infrastructure - Digital asset payments, tokenized securities (STO)"
Our Solution Full-stack STO + digital asset payments platform on DOS Chain (Avalanche L1): AI-powered tokenization of corporate bonds via ERC-3643, on-chain compliance, integrated payment rail (gasless, ERC-4337, x402, ICTT bridge), settlement in 1 second
Devpost devpost.com/software/dos-n05ucd
Live Demo rwa.doschain.com
Source Code github.com/DOS/RWA

Follow-up opportunity: The same theme is also the subject of Shinhan InnoBoost 2026 (deadline ~early May 2026), with a larger scope (MVP+ maturity, 3-6 month POC, API integration, AI/ML requirement, reference deployments). This hackathon submission is a focused scoped-down demo of the same vision. We intend to submit the full platform for InnoBoost separately - our solution already meets every InnoBoost criterion (see What's next section).

Inspiration

In January 2026, South Korea's parliament passed amendments to the Capital Markets Act and Electronic Securities Act - creating the first legal framework for tokenized securities on distributed ledgers. The global RWA (Real World Asset) market has crossed $26.4 billion, growing 300% year-over-year. BlackRock's tokenized Treasury fund BUIDL holds $2.5 billion across 9 chains including Avalanche. JPMorgan's Kinexys processes $2 billion daily in tokenized transactions. DBS launched tokenized structured notes on Ethereum. The institutional migration to on-chain securities is no longer a question of "if" - it's "how fast."

Shinhan Financial Group has been preparing: the STO Alliance (2023) set industry standards, the KB-NH-Shinhan consortium built shared distributed ledger infrastructure, and Shinhan-backed KDAC became Korea's first institutional digital asset custodian. Korea's STO market alone is projected to reach 367 trillion won (~$250B) by 2030.

But Shinhan's Vietnam subsidiary - 5 companies, 51 branches, present since 1993 - has zero blockchain or tokenization infrastructure. Meanwhile, Vietnam just unlocked the opportunity: the Digital Technology Industry Law (effective 01/01/2026) recognizes digital assets as property, and Resolution 05/2025 launched a 5-year nationwide pilot for tokenized assets, with the Ministry of Finance accepting license applications since January 2026.

Shinhan VN CEO Lee Sun-hoon called Vietnam "a strategic starting point for global digital innovation." We built the infrastructure to make that happen.

What it does

DOS Chain Digital Assets & Tokenized Securities is a full-stack STO platform that enables Shinhan Securities Vietnam to issue, manage, and trade tokenized securities on a sovereign Avalanche L1 blockchain, with AI-powered compliance and investment advisory.

For Shinhan (Issuer Portal):

Capability How
Issue tokenized securities Upload bond prospectus → Qwen AI extracts all parameters (face value, coupon, maturity, restrictions) → review → one-click deploy ERC-3643 compliant token
Automated compliance Qwen AI checks issuance against VN Digital Asset Law, KR STO regulations, generates compliance reports for regulators
Lifecycle management Pause/unpause tokens, freeze investor accounts (regulatory order), force transfers, distribute coupon payments

For Investors (Investor Portal):

Capability How
KYC onboarding Upload ID → ONCHAINID identity contract deployed with signed claims (KYC, AML, country, accredited status)
Browse & invest Marketplace of tokenized securities - filter by type, yield, maturity, risk rating
AI investment advisor Chat with Qwen AI: "explain this bond," "compare SCB26A vs SCB26B," "recommend bonds for conservative profile" - in Vietnamese, English, or Korean
Portfolio management Holdings, P&L tracking, coupon payment history, transfer records

On-chain compliance (automatic, every transaction):

Every token transfer passes through the ERC-3643 compliance module - it checks the investor's ONCHAINID claims (KYC verified? AML cleared? Country allowed? Lock-up period passed? Investor limit reached?) before the transfer executes. Non-compliant transfers are automatically blocked at the smart contract level. No off-chain enforcement needed.

For Regulators (Compliance Dashboard + DOScan):

Full transparency - AI-generated compliance reports per token, investor registry with claim status, complete transfer audit trail, PDF export. All on-chain data independently verifiable through DOScan explorer.

Digital asset payments (the other half of SS6):

Track SS6 explicitly covers both "digital asset payments" and "tokenized securities". Tokenization without a payment rail is incomplete - issuers need to distribute coupon payments, settle secondary trades, and enable cross-border flow. DOS Chain ships both halves in one stack:

Payment Capability Implementation on DOS Chain
Gasless transactions Whitelisted investors pay zero gas for KYC onboarding, token transfers, compliance-verified flows
Account abstraction (ERC-4337) Rundler bundler running on DOS Chain (bundler.doschain.com) - smart contract wallets with social recovery, session keys, batch calls
Automated coupon distribution ERC-3643 forcedTransfer + scheduled contracts distribute bond yields to token holders on schedule, no manual reconciliation
Cross-border settlement ICTT bridge: near-instant settlement DOS Chain ↔ Avalanche C-Chain ↔ Ethereum. Compliance state preserved on transfer (ONCHAINID claims verified on destination chain)
Stablecoin-ready Ready to integrate won-pegged stablecoin (8 Korean banks incl. Shinhan consortium) and VND-pegged alternatives for settlement in local currency
x402 micropayments HTTP-native payment facilitator deployed (services/x402-facilitator) - pay-per-API-call, machine-to-machine commerce
Batch operations Multicall3 deployed for portfolio-level read/write (e.g., claim coupons from 50 bonds in one transaction)
1-second finality Payments settle in 1 second - faster than traditional T+2 securities settlement by ~172,800x

The result: a single chain handles both tokenizing a Shinhan corporate bond and paying out its semi-annual coupons in stablecoin, automatically, gaslessly, with instant finality - covering both halves of the SS6 mandate with one integrated infrastructure.

How we built it

Layer Technology
Blockchain DOS Chain - Avalanche L1, Chain ID 7979, 4 validators, 1s blocks, 100M gas limit
Smart contracts ERC-3643 (T-REX) - Token, Identity Registry, ONCHAINID, Compliance Module, Claim Verifier, Trusted Issuers Registry, Token Factory. Foundry, Solidity 0.8.17 (T-REX) + ^0.8.28 (DOS contracts)
AI inference Qwen3.5 via Alibaba Cloud Model Studio - 3 agents: Doc Processor (Qwen-VL), Compliance Engine (RAG), Investment Advisor
User auth DOS.Me ID - login via id.dos.me (Supabase Auth), no wallet required for end users
Issuer Portal Next.js 16 + viem, backend wallet signs deployments on behalf of issuers (no crypto wallet needed)
Investor Portal Next.js 16 + DOS.Me SSO login, live marketplace auto-populates from on-chain TREXFactory events, embedded Qwen AI chat widget
Localization Vietnamese (default) + English, switchable
Explorer DOScan - enhanced token pages with securities metadata
Identity ONCHAINID (ERC-3643 standard) - 1 identity contract per investor, claims signed by Shinhan as Trusted Issuer
Attestations EAS (Ethereum Attestation Service) - existing deployment on DOS Chain, feeds trust scores and broader identity data
Cross-chain ICTT bridge - DOS Chain ↔ Avalanche C-Chain settlement

Qwen AI is core to the solution - not bolted on:

  1. Document Processor - Qwen-VL reads prospectus PDFs and extracts structured data (security name, face value, coupon rate, maturity, restrictions). This directly populates the TokenFactory deployment parameters. Without AI, an issuer would manually fill 15+ fields per security.

  2. Compliance Engine - RAG over Vietnamese and Korean regulatory documents. Checks every issuance against Digital Technology Industry Law 2025, Resolution 05/2025, and Korean Capital Markets Act. Generates compliance reports that a regulator can actually read.

  3. Investment Advisor - Reads on-chain data (token metadata, holder distribution, transfer volume) + investor's portfolio, provides natural language investment guidance in Vietnamese/English/Korean.

Why Avalanche L1 (DOS Chain) instead of C-Chain or Ethereum?

Shinhan can run its own validator node on DOS Chain - impossible on C-Chain or Ethereum. This gives the same sovereign control as JPMorgan's Kinexys or a private Hyperledger, but with full Avalanche ecosystem interoperability (ICTT bridge to C-Chain, same ecosystem as BlackRock BUIDL). Dedicated throughput, sub-cent transaction costs, and a regulatory narrative that works: "Shinhan validates transactions on a dedicated chain" beats "we deployed a contract alongside meme coins."

Full on-premise / self-hosted capability - a banking requirement in Vietnam:

Vietnamese banking regulations require that financial infrastructure can be deployed entirely on-premise within the bank's own data center. Every component in our stack supports this:

Component Self-hosted? How
DOS Chain (blockchain) Yes AvalancheGo binary, run validators on bank's own servers
DOScan (explorer) Yes Docker containers (backend + frontend + PostgreSQL)
Qwen AI (3 agents) Yes Self-hosted via vLLM on bank's GPU servers, no cloud dependency
DApp (web portals) Yes Next.js, deploy on any Node.js server or Docker
DOS.Me ID (auth) Yes Supabase self-hosted (already running on our own infrastructure)
EAS (attestations) Yes Smart contracts on DOS Chain - no external dependency

Zero cloud dependency. The entire stack - blockchain nodes, explorer, AI inference, web app, authentication, custody - can run inside Shinhan's data center on Shinhan's hardware. No data leaves the bank's network. This is not a theoretical capability - DOS Chain already runs on self-managed VMs, DOScan runs self-hosted Docker, Qwen runs on self-hosted GPU, and Supabase runs self-hosted.

Dedicated permissioned L1 option. If required, we can deploy a completely separate permissioned Avalanche L1 exclusively for Shinhan - running entirely on Shinhan's servers with Shinhan-controlled validators. Same ERC-3643 contracts, same AI agents, same DApp - but on a private chain where Shinhan controls 100% of the infrastructure. This chain can still bridge to the public DOS Chain or Avalanche C-Chain via ICTT when cross-chain settlement is needed, or operate fully isolated if regulation demands it. Spinning up a new Avalanche L1 takes hours, not months - the tooling and deployment scripts are already built.

Institutional Validation - We Use What the Giants Use

We didn't invent anything new. Every technical choice we made is already proven at institutional scale by major banks and asset managers. When Shinhan Vietnam adopts DOS Chain, they're adopting the same standards as JPMorgan, BlackRock, DTCC, and their own Korea parent company.

ERC-3643 (T-REX) - the token standard we use:

Institution What they tokenized on ERC-3643 Scale
DTCC Joined the ERC-3643 Association (03/2025) as founding member World's largest securities settlement system - $2.5 quadrillion/year
US SEC Publicly recognized ERC-3643 as compliant for tokenized securities (07/2025) Regulatory validation
Tokeny Platform powering banks, asset managers, exchanges $32B+ in securities issued via T-REX
Archax FCA-regulated digital asset exchange First UK-regulated STO platform on T-REX
K3 Capital Tokenized pre-IPO equity Backed by major institutional investors
CMTA (Swiss bankers) Adopted T-REX for Swiss digital securities Swiss regulatory framework

Sovereign/dedicated L1 blockchain - our architectural choice:

Institution Their sovereign chain Why they did it
JPMorgan Kinexys (Quorum → Canton) $2B/day in tokenized transactions, $1.5T+ processed
Goldman Sachs GS DAP (Canton/Daml) Tokenized bonds, MMFs, spinning out as platform in 2026
HSBC Orion (private DLT) $3.5B+ digital native bonds, UK sovereign bond pilot
Citi Citi Token Services (permissioned) Cross-border 24/7 settlement across US/UK/SG/HK/IE
Shinhan (Korea) Lambda256/Luniverse + KDAC Same playbook we're replicating for Vietnam

Tokenized assets on public-adjacent chains (our interop story):

Asset Platform Chain(s) Scale
BlackRock BUIDL Securitize 9 chains incl. Avalanche $2.5B+ AUM, 40% of tokenized treasury market
Franklin Templeton BENJI Proprietary + Stellar 8 chains incl. Avalanche $732M AUM
Ondo Finance OUSG Ondo Ethereum + Sui + Solana $650M+ TVL in tokenized treasuries
Hamilton Lane SCOPE Securitize Polygon + Avalanche Tokenized private equity fund
Apollo Global ACRED Securitize Ethereum + Solana Tokenized credit fund
WisdomTree Prime Proprietary + Stellar Multi-chain Tokenized MMF, gold, etc.

The pattern is unmistakable: every major institutional tokenization initiative uses (a) dedicated/permissioned chains with sovereign validator control, (b) on-chain identity + compliance at the smart contract level, and (c) interoperability bridges to public chains. DOS Chain + ERC-3643 + ONCHAINID + ICTT gives Shinhan Vietnam exactly this architecture, in production, today.

Why this matters for Shinhan: the market research is done. The standards are set. The regulatory precedents exist. Shinhan doesn't need to pioneer a new approach - they need to execute on the proven one, first in Vietnam. That's a 6-month project, not a 3-year one.

Challenges we ran into

ERC-3643 on a fresh chain. The T-REX reference implementation assumes Ethereum mainnet tooling. Deploying the full 6-contract system (Token, Identity Registry, ONCHAINID, Compliance Module, Claim Verifier, Trusted Issuers Registry) plus the Token Factory on DOS Chain required adapting deployment scripts and verifying contract interactions work correctly with Avalanche L1's consensus model.

Compliance is not a checkbox. Building the RAG pipeline for the Compliance Engine meant sourcing, parsing, and chunking Vietnamese legal documents (Digital Technology Industry Law - 80+ articles) and Korean STO legislation. Legal text is dense, cross-referencing, and full of exceptions. Getting Qwen to produce accurate compliance assessments - not hallucinated ones - required careful prompt engineering and structured output validation.

Gasless onboarding for investors. Deploying a full ONCHAINID identity contract per investor costs $50-100 on Ethereum. On DOS Chain, the cost is fractions of a cent - and we can go further: DOS Chain supports gasless transactions for whitelisted contracts and users, meaning investors pay zero gas for KYC onboarding and identity deployment. This turns a challenge on other chains into a competitive advantage.

Bridging securities across chains. Tokenized securities aren't like fungible tokens - a cross-chain transfer must preserve compliance state. The investor on the destination chain must also have valid ONCHAINID claims. We designed the ICTT bridge integration to enforce this, but it added complexity to what's normally a simple bridge call.

Accomplishments that we're proud of

  • Full ERC-3643 live on mainnet - not a testnet demo. 6-contract T-REX system + TREXFactory at vanity 0x7979...3643 (Rust miner, 49M hashes/sec, 108s).
  • PDF → token in <10 seconds - Qwen extracts params, AI validates compliance, backend wallet fires 4 transactions (deploy + register + unpause + mint). Real supply on-chain.
  • Live marketplace from on-chain events - Investor Portal queries TREXSuiteDeployed from the factory. No database, blockchain is the source of truth.
  • 4 sample prospectuses - Corporate Bond, Government Bond, REIT Fund, and a non-compliant Cayman crypto fund. AI correctly blocks the bad one.
  • Compliance enforced at contract level - every transfer checked against ONCHAINID claims. Non-compliant = reverts. No off-chain trust.
  • Zero-friction UX - DOS.Me SSO login (no MetaMask), gasless for whitelisted users (ONCHAINID deployment costs the investor $0 vs $50-100 on Ethereum).
  • On-premise ready - every component self-hostable on bank hardware. Required by Vietnamese banking regulations.
  • Built on live infrastructure - EAS, DOScan, ICTT, DOS Names, Faucet - all in production. We integrated, didn't reinvent.
  • Integrated digital asset payments - gasless transactions, ERC-4337 account abstraction (Rundler live on DOS Chain), x402 facilitator, Multicall3 batching, 1-second finality. Covers both halves of track SS6 on one chain.

What we learned

  1. Standards > innovation in regulated finance. Banks want ERC-3643 + ONCHAINID (DTCC & SEC endorsed), not custom cleverness.
  2. Avalanche L1 is the institutional sweet spot. Sovereign validators + interop + near-zero cost. What JPMorgan built Kinexys toward, we had on day one.
  3. AI compliance is a force multiplier. Manual VN/KR regulatory review takes a legal team days. Qwen does the first 90% in seconds - lawyers review the rest.
  4. Vietnam is ready. Law 2025, Resolution 05/2025, MoF license applications open. The missing piece is infrastructure, not permission.
  5. On-premise is non-negotiable. Shinhan's webinar (15/04/2026) confirmed VN banks need full on-premise. This eliminates SaaS-only competitors (Securitize, Tokeny).
  6. Korea playbook maps to VN. Shinhan's STO Alliance + Lambda256 + KDAC model all translate - DOS Chain is the Vietnam-ready equivalent.

What's next for DOS Chain Digital Assets & Tokenized Securities

Known gaps in the hackathon build (documented honesty):

These are built into the demo as wireframes/placeholders but not fully wired to the blockchain yet. Production work:

  • Investor KYC onboarding UI - currently investors log in via DOS.Me SSO, but the full KYC → ONCHAINID deployment → claim signing flow is demoed in the issuer path only (issuer's own ONCHAINID). Investor-side KYC wizard + ONCHAINID creation per investor is the next piece.
  • Buy/sell marketplace UX - marketplace lists deployed tokens live from on-chain events, but the "Buy N units" button is not yet wired. Needs: token allowance flow, gasless meta-transaction via ERC-4337 paymaster, settlement against issuer balance.
  • Compliance Dashboard data - currently shows hardcoded demo rows. Needs: query all deployed tokens + aggregate holder/country/audit metadata from Identity Registry events.
  • AI Investment Advisor on-chain data integration - Qwen chat works but currently answers from its training + hardcoded context. Should read live token metadata, holder distribution, transfer volume from DOS Chain.
  • Coupon payment distribution - smart contract support exists (ERC-3643 has forcedTransfer) but no scheduled distribution UI yet.
  • Multi-investor test - demo is single-wallet (deployer/issuer mints to themselves). Need: register a second investor wallet, add KYC claim, demonstrate compliant transfer.
  • Token metadata on DOScan - face value, coupon rate, maturity date are in the prospectus but not stored on-chain yet. Need either a MetadataRegistry contract or off-chain JSON pinned to IPFS.
  • Safe multisig for institutional custody - currently backend wallet signs deployments; production would route through a Shinhan-controlled Gnosis Safe on DOS Chain for multi-signature approval.
  • Token factory verification on DOScan - TREXFactory deployed but not Etherscan-verified on DOScan yet (source code verification).

Shinhan InnoBoost 2026 submission (follow-up track, deadline ~early May 2026):

The full platform (not the scope-down hackathon demo) is targeted at Shinhan's InnoBoost 2026 call for "Digital Assets & Tokenized Securities". The use case is owned by Shinhan Securities VN Strategy Division, aimed at Retail & Institutional business departments. Our proposed PoC (6-week pilot within InnoBoost's 3-6 month window):

  • Setup (2 weeks): On-premise deployment of full stack in Shinhan data center (blockchain nodes, DOScan, Qwen AI via vLLM, DApp). Integrate with Shinhan's existing KYC/AML system via webhook-triggered ONCHAINID claim signing.
  • Run (2 weeks): Pilot tokenize 1 corporate bond (e.g., SHVN26A - 500 units, 50B VND). Onboard 10-20 qualified investors with gasless ONCHAINID deployment. End-to-end flow: AI extract → compliance check → deploy ERC-3643 → mint → investor purchase → coupon distribution.
  • Evaluate (2 weeks): Measure time-to-issuance, compliance accuracy, UX friction. Generate regulator-ready report. Joint decision on production rollout.

Explicit match against InnoBoost criteria:

InnoBoost Requirement Our Status
Solution maturity: MVP+ Live on DOS Chain mainnet, full ERC-3643 + payments stack
POC readiness: 3-6 months 6-week pilot ready to start Q2 2026
Integration: API-based REST + JSON-RPC for all operations, DOS.Me SSO, webhook KYC integration
AI/ML capability Qwen 3.5-35B - 3 production agents (doc processing, compliance, advisory)
References Team's own production stack (DOS Chain mainnet, DOScan, EAS, ICTT) + same architecture as BlackRock BUIDL ($2.5B), JPMorgan Kinexys ($2B/day), Tokeny ($32B+)

Additional deliverables post-hackathon:

  • Connect to Shinhan's SOL app for investor access
  • Close the gaps above (investor KYC UI, buy/sell wiring, coupon distribution UI, multi-investor demo, DOScan contract verification)

Short-term (6 months):

  • Multi-asset support: corporate bonds → government bonds → fund certificates → structured notes
  • Secondary market trading with on-chain order book or AMM designed for securities
  • Coupon payment automation - smart contract distributes yield to token holders on schedule
  • Shinhan runs validator node on DOS Chain - full sovereign participation

Medium-term (12 months):

  • Cross-border STO: leverage ICTT bridge for DOS Chain ↔ C-Chain ↔ Ethereum settlement
  • Integration with Shinhan's Korean STO infrastructure (Lambda256/Luniverse) via bridge
  • Won-pegged stablecoin settlement (8 Korean banks consortium)
  • Expand to other Shinhan subsidiaries: Shinhan Bank VN (tokenized deposits), Shinhan Finance (tokenized lending)

Long-term:

  • Full RWA platform: real estate, commodities, private credit tokenization
  • Regulatory sandbox participation under VN Resolution 05/2025
  • Connect to Chainlink DTA for Swift messaging integration (following UBS model)
  • Open the Token Factory to other Vietnamese securities firms - DOS Chain becomes the national STO infrastructure

Live Links

Resource URL
DApp rwa.doschain.com
Explorer doscan.io
Token SCB26A doscan.io/token/0x2720...
TREXFactory doscan.io/address/0x7979...3643
DOS.Me Login id.dos.me
GitHub (submission) github.com/DOS/RWA
GitHub (full monorepo) github.com/DOS/DOS-Chain

Design Spec

Overview

DOS Securities is a full-stack Security Token Offering (STO) platform on DOS Chain (Avalanche L1) combining ERC-3643 compliant tokenization with Qwen AI for compliance automation, document processing, and investment advisory - enabling Shinhan Securities Vietnam to become the first mover in tokenized securities in Vietnam.

Pitch: Shinhan has an STO roadmap in Korea (STO Alliance, Lambda256, KDAC) but zero blockchain/tokenization initiative in Vietnam. Vietnam just opened up - Digital Technology Industry Law (01/2026) + Resolution 05/2025 (5-year pilot for tokenized assets). The global RWA market is $26.4B growing 300% YoY. DOS Securities gives Shinhan VN the tools to issue, manage, and trade tokenized securities on a sovereign Avalanche L1 chain with AI-powered compliance.

Architecture - 4 Layers

┌─────────────────────────────────────────────────────────────────┐
│                      PRESENTATION LAYER                         │
│                                                                 │
│  Issuer Portal        Investor Portal      Compliance Dashboard │
│  (Shinhan internal)   (Public)             (Regulator view)     │
│  - Upload prospectus  - KYC onboarding     - AI compliance      │
│  - Deploy tokens      - Browse securities    reports per token  │
│  - Manage lifecycle   - Buy/sell tokens    - Investor registry  │
│  - Distribute coupons - Qwen AI advisor    - Transfer audit log │
│                         chat widget        - PDF export         │
├─────────────────────────────────────────────────────────────────┤
│                        QWEN AI LAYER                            │
│                                                                 │
│  Qwen AI Gateway (Alibaba Cloud Model Studio)                   │
│                                                                 │
│  Agent 1: Doc Processor     Agent 2: Compliance    Agent 3:     │
│  - PDF prospectus/term      Engine                 Investment   │
│    sheet → structured       - RAG over VN/KR       Advisor      │
│    JSON → contract params     regulatory docs      - Risk       │
│  - Qwen-VL for document    - Check issuance         analysis   │
│    understanding              compliance           - Portfolio  │
│                             - Transfer eligibility   recommend  │
│                             - AML screening        - NL Q&A     │
│                             - Generate reports     - VI/EN/KR   │
├─────────────────────────────────────────────────────────────────┤
│                    SMART CONTRACT LAYER                          │
│                     (DOS Chain 7979)                             │
│                                                                 │
│  ERC-3643 T-REX System (industry standard):                     │
│  ┌──────────┐ ┌────────────────┐ ┌───────────────────────┐      │
│  │ Token    │ │ Identity       │ │ Compliance Module     │      │
│  │ (T-REX)  │ │ Registry       │ │ - CountryRestrict     │      │
│  │ ERC-20 + │ │ wallet →       │ │ - InvestorLimit       │      │
│  │ transfer │ │ ONCHAINID      │ │ - LockUpPeriod        │      │
│  │ hooks    │ │                │ │ - MinDenomination     │      │
│  └──────────┘ └────────────────┘ └───────────────────────┘      │
│  ┌──────────┐ ┌────────────────┐ ┌───────────────────────┐      │
│  │ Claim    │ │ Token Factory  │ │ Trusted Issuers       │      │
│  │ Verifier │ │ deploy new     │ │ Registry              │      │
│  │ (KYC/AML │ │ securities     │ │ Shinhan = trusted     │      │
│  │ claims)  │ │                │ │ issuer                │      │
│  └──────────┘ └────────────────┘ └───────────────────────┘      │
│                                                                 │
│  Existing DOS Chain infrastructure:                              │
│  EAS (attestations) | ICTT Bridge | Multicall3 | DOS Names      │
├─────────────────────────────────────────────────────────────────┤
│                    INFRASTRUCTURE LAYER                          │
│                                                                 │
│  DOS Chain Mainnet    DOScan Explorer   ICM Relayer              │
│  4 validators         Full indexing     Cross-chain settlement   │
│  1s blocks            Regulator view                             │
│  100M gas limit                                                  │
└─────────────────────────────────────────────────────────────────┘

Identity Architecture

ONCHAINID (ERC-3643 standard) is the identity layer for securities compliance. EAS (existing on DOS Chain) provides broader attestation data (trust scores, reputation).

Investor onboard
       │
       ▼
  Shinhan KYC process
  (Qwen AI assists with document verification)
       │
       ▼
  ONCHAINID deployed (1 contract per investor)
  Claims added (signed by Shinhan as Trusted Issuer):
    - Topic 1: KYC verified ✓
    - Topic 2: AML cleared ✓
    - Topic 3: Accredited investor ✓
    - Topic 4: Country = VN ✓
       │
       ▼
  Identity Registry links wallet → ONCHAINID
       │
       ▼
  ERC-3643 Compliance Module
  reads ONCHAINID claims before every transfer
       │
  Meanwhile, EAS attestations (existing):
    - Trust scores → feed Qwen AI risk analysis
    - Social/blockchain identity → DOS.Me ecosystem
    - Broader data layer, not required for transfer compliance

Why ONCHAINID (not custom): ERC-3643 + ONCHAINID is the industry standard - DTCC joined (03/2025), SEC recognized (07/2025). For a banking hackathon, using the exact standard the industry has converged on is the strongest narrative.

Smart Contracts - ERC-3643 T-REX Components

1. Token (T-REX)

  • ERC-20 compatible with transfer hooks
  • canTransfer() checks compliance before EVERY transfer
  • decimals: 0 for whole-unit securities (bonds)
  • Metadata: face value, coupon rate, maturity date, ISIN

2. Identity Registry

  • Maps investor wallet address → ONCHAINID contract
  • Only registered investors can hold tokens
  • Shinhan = registry agent (add/remove investors)

3. ONCHAINID (per investor)

  • Holds signed claims from Trusted Issuers
  • Claims: KYC level, AML status, accredited status, country, expiry
  • Self-sovereign: investor owns their identity contract

4. Compliance Module

  • Pluggable rules engine, checked on every transfer:
    • CountryRestrict - only VN, KR residents
    • InvestorLimit - max 200 holders per token
    • LockUpPeriod - e.g., 6 months post-issuance
    • MinDenomination - e.g., 1M VND minimum
  • Modular: Shinhan can add/remove rules per security

5. Claim Verifier (ClaimTopicsRegistry)

  • Defines required claim topics per token
  • e.g., "This bond requires KYC (topic 1) + AML (topic 2) + Accredited (topic 3)"

6. Trusted Issuers Registry

  • Who can sign claims: Shinhan Securities VN, Shinhan Bank VN
  • Future: third-party KYC providers can be added

7. Token Factory

  • One-click deploy new tokenized security: deploySecurityToken( name: "Shinhan Corp Bond 2026-A", symbol: "SCB26A", complianceModules: [country, lockup, investorLimit], claimTopics: [KYC, AML, ACCREDITED], trustedIssuers: [shinhan.dos], initialSupply: 10000, metadata: { faceValue: "1000000", // 1M VND per unit couponRate: "850", // 8.50% in basis points maturityDate: 1798761600, issuer: "Shinhan Securities Vietnam" } )

Qwen AI Layer - 3 Agents

Agent 1: Document Processor

  • Input: PDF/image of prospectus, term sheet
  • Process: Qwen-VL (vision) reads document → extracts structured fields
  • Output: JSON ready for TokenFactory deployment
  • Fields extracted: security name, type, ISIN, face value, currency, coupon rate, payment frequency, maturity date, min denomination, investor restrictions, issuer info

Agent 2: Compliance Engine

  • Knowledge base (RAG):
    • VN Digital Technology Industry Law 2025
    • VN Resolution 05/2025 (tokenized asset pilot)
    • KR Capital Markets Act (STO amendments)
    • KR Electronic Securities Act
    • Shinhan internal compliance guidelines
  • Functions:
    • checkIssuanceCompliance(tokenParams) → compliant/issues/report
    • checkTransferEligibility(from, to, amount) → eligible/reason
    • generateComplianceReport(tokenAddress) → PDF for regulators
    • screenAML(investorAddress) → clean/riskScore

Agent 3: Investment Advisor

  • Context: all tokenized securities on DOS Chain, on-chain data, investor portfolio, market data
  • Capabilities:
    • "Explain this bond in simple terms"
    • "Compare SCB26A vs SCB26B"
    • "What's my portfolio risk?"
    • "Recommend bonds for conservative investor"
  • Languages: Vietnamese + English + Korean
  • Interface: Chat widget in Investor Portal

Presentation Layer - 3 DApps

1. Issuer Portal (Shinhan internal)

  • Upload prospectus → Qwen extracts params → review & edit → backend wallet deploys ERC-3643 token (4 transactions: deploy + register + unpause + mint)
  • Token management: pause/unpause, freeze investor, force transfer (regulatory order), update compliance rules, distribute coupon payments
  • Compliance dashboard: AI reports per token, investor registry, transfer audit log, PDF export

2. Investor Portal (Public)

  • KYC onboarding: upload ID → Qwen verify → ONCHAINID created with claims
  • Marketplace: browse tokenized securities, filter by type/yield/maturity/risk
  • Portfolio: holdings, P&L, coupon payments, transfer history
  • Qwen AI chat widget for investment advice

3. DOScan Integration (Enhanced)

  • Token pages show metadata: face value, coupon, maturity, compliance status
  • Investor registry visible (addresses + claim status)
  • Transfer events with compliance check results

Why DOS Chain (Avalanche L1) vs Alternatives

Criteria DOS Chain (Avalanche L1) Avalanche C-Chain Ethereum L1 Permissioned (Quorum/Canton)
Who uses similar - BlackRock BUIDL ($500M) BlackRock BUIDL ($2B), DBS, UBS JPMorgan Kinexys, Citi, Goldman
Throughput Dedicated - 100M gas, 1s blocks Shared with all dApps Shared, congestion Dedicated but isolated
Cost ~0.001 VND/tx ~$0.01-0.10/tx $5-50/tx Free (high infra cost)
Permissioning Flexible - PoA validators (Shinhan can run node) Permissionless only Permissionless only Fully permissioned
Compliance ERC-3643 + ONCHAINID + EAS ERC-3643 ERC-3643 Custom, non-standard
Interop ICTT bridge → C-Chain → Ethereum Native Avalanche Bridges (risk) Isolated silo
Validator control Shinhan can run validator (like KDAC on Polymesh) Cannot Cannot Must host everything
Data privacy Configurable - encrypt sensitive data Fully public Fully public Full privacy
Explorer DOScan (dedicated, full indexing) Snowtrace (shared) Etherscan (shared) No public explorer
On-premise Full self-hosted - all components Cannot Cannot Yes but isolated
Existing infra EAS, Names, Bridge, Faucet - ALL LIVE Deploy from scratch Deploy from scratch Build from scratch

Key argument: DOS Chain gives Shinhan the best of both worlds - sovereign control like a private chain (run validators, custom gas economics, dedicated throughput) but interoperable like a public chain (Avalanche ecosystem, ICTT bridge to Ethereum). Like JPMorgan building Kinexys as a sovereign platform but bridging to Canton Network - we already have that architecture live.

Regulatory narrative: "Shinhan runs validator on dedicated chain" >> "deployed contract on public chain alongside meme coins" when talking to regulators.

Deployed Contracts (DOS Chain Mainnet - Chain ID 7979)

Contract Address Note
TREXFactory 0x7979539fb9eb7f1c92221f278a92812967303643 Vanity 7979...3643, CreateX CREATE2
TREXImplementationAuthority 0xeB898726dD4aa5750056B4aCe32668C85a9bf3a8 Manages all T-REX implementations
IdFactory 0xcCA7dA18982a8d3941c95E91449122C85B04F4C0 ONCHAINID identity factory
IAFactory 0xEf739759A738BD025403F8fa96113e6e09C1d0D0 Implementation Authority factory
Token (SCB26A) 0x27202027046E614E159329d9cdf8c35a197CC7b5 Shinhan Corp Bond 2026-A
IdentityRegistry 0xA02d42F345B4a96a756292b1b8818137898A90c1 Wallet → ONCHAINID mapping
ModularCompliance 0xd0CCa4Ec671b5c08f211c94FCF39007114DCbb1e Transfer rules engine
TrustedIssuersRegistry 0x91117325e1DbcB79F1A507F744571EC14fcF1500 Shinhan = trusted KYC issuer
ClaimTopicsRegistry 0x5D156DfFae379eD3dD283d948fD3CEb5997a2593 KYC claim topic required
ClaimIssuer (Shinhan) 0x726B089560bd88059c804c3F0895A6023CDE3C73 Signs KYC claims
Deployer ONCHAINID 0x3a55529D46EF3C82D48A3D4f6685892662B2AD10 Identity for deployer wallet
Investor ONCHAINID 0xB02aA81454b79893FFA311272EC88D4e8b0e82A2 Identity for test investor

On-chain verification: Deployer balance = 90 SCB26A, Investor balance = 10 SCB26A. Transfer to unregistered address reverts with "Transfer not possible" - compliance enforced at smart contract level.

Demo Flow for Judges

Scene 1: Issuance (Issuer Portal - 4-step wizard)

  1. Shinhan uploads bond prospectus PDF (4 built-in samples: Corporate Bond, Government Bond, REIT Fund, Non-compliant Cayman entity)
  2. Step 1 - Upload: Drag-and-drop or sample picker
  3. Step 2 - Review: Qwen AI extracts 15+ fields (name, symbol, face value, coupon, maturity, restrictions, max investors, lock-up). All fields editable inline before submit.
  4. Step 3 - Compliance: Qwen AI checks against VN Digital Technology Law 2025, Resolution 05/2025, Decree 153/2020. Non-compliant issuances (Cayman entity, no KYC, >20% yield) are blocked - deploy button disabled.
  5. Step 4 - Deploy: Backend wallet signs 4 transactions on DOS Chain mainnet:
    • TREXFactory.deployTREXSuite() → creates Token + Identity Registry + Compliance Module + Claim Registry + Trusted Issuers Registry
    • IdentityRegistry.registerIdentity() → registers issuer with existing ONCHAINID + VN country code
    • Token.unpause() → enables transfers
    • Token.mint(issuer, totalSupply) → mints exact supply from prospectus (e.g., 500 bonds for SHVN26A)
  6. Token live on DOScan with real supply, links to all component contracts

Scene 2: Investor Marketplace (Investor Portal)

  1. Investor logs in with DOS.Me ID (email/Google SSO - no crypto wallet needed)
  2. Marketplace auto-populates by querying TREXSuiteDeployed events from factory - every deployed token appears automatically with name, symbol, total supply, on-chain address
  3. Qwen AI chat: "explain SHVN26A bond", "compare yields", "is this safe for me?" - natural language in Vietnamese

Scene 3: Compliance View (Compliance Dashboard)

  1. Token compliance status table - all issued tokens, investor counts, countries, last audit
  2. Transfer audit trail - every transfer checked on-chain against ONCHAINID claims
  3. ERC-3643 enforces: transfer to unregistered address reverts with "Transfer not possible"

Research & Key Insights

Market Landscape (03/2026)

Metric Value
Total RWA on-chain (ex stablecoins) $26.4B
Tokenized Treasuries $7B+
Tokenized Equities $963M (2,878% YoY growth)
Avalanche RWA TVL $1.33B (949% YoY growth)
Forecast 2028 (Standard Chartered) $2 trillion
Korea STO market forecast 2030 (BCG) 367T won (~$250B)

Major Banks Already Doing This

Bank Platform Chain Product Scale
JPMorgan Kinexys Quorum → Canton Tokenized deposits, Intraday Repo $1.5T+ processed, ~$2B/day
BlackRock BUIDL (Securitize) 9 chains incl. Avalanche Tokenized US Treasury fund $2.5B+ AUM, 40% market share
Goldman Sachs GS DAP Canton/Daml Tokenized bonds, MMF Spinning out as platform 2026
HSBC Orion DLT Digital native bonds $3.5B+ bonds, UK DIGIT sovereign bond pilot
DBS DDEx Ethereum public Tokenized structured notes $1B+ H1/2025
UBS UBS Tokenize Ethereum MMF token, fixed rate notes First end-to-end Chainlink DTA
Franklin Templeton BENJI 8 chains incl. Avalanche Tokenized US Gov Money Fund $732M AUM
Citi Citi Token Services Permissioned Tokenized deposits, cross-border 24/7 US, UK, SG, HK, IE
Standard Chartered - - Tokenized deposits (SGD/USD/HKD/CNH) -

Shinhan Specific

  • STO Alliance (02/2023) - consultative body for tokenized securities ecosystem
  • Lambda256/Luniverse - PoC STO platform (blockchain infra, wallet, token issuance)
  • KDAC (Shinhan invested) - first institutional digital asset custodian in Korea, Polymesh node operator
  • Consortium KB + NH + Shinhan - shared distributed ledger for STO
  • 8 Korean banks (incl. Shinhan) developing won-pegged stablecoin
  • Vietnam: 5 subsidiaries, present since 1993, CEO says "Vietnam is strategic starting point for global digital innovation" - NO blockchain/tokenization initiative in VN yet = greenfield opportunity
  • InnoBoost: winner gets priority for up to VND 200M PoC funding

Token Standard: ERC-3643 (T-REX)

Why ERC-3643 over alternatives:

Feature ERC-3643 ERC-1400 ERC-20
Status Official ERC, DTCC joined (03/2025), SEC recognized (07/2025) Draft, never finalized Standard
On-chain identity ONCHAINID built-in None None
Compliance Modular compliance module, automatic transfer restrictions Partition-based None (off-chain only)
KYC/AML Identity Registry + Claim Verifier Manual Manual
Best for Regulated securities (our use case) US equity/bonds Simple tokens
Used by Tokeny, Avalanche RWA, SkyBridge, DTCC Polymath BUIDL/BENJI (with wrapper)

ERC-3643 is the winning standard for tokenized securities - on-chain compliance, identity registry, transfer restrictions built-in. Perfect fit for VN regulation requiring KYC/AML.

Vietnam Regulatory (Favorable Timing)

  • Digital Technology Industry Law 2025: effective 01/01/2026 - recognizes digital assets as property
  • Resolution 05/2025: 5-year pilot program for tokenized assets nationwide
  • Requirements: only crypto assets backed by tangible assets, only VN companies can issue
  • Tax: 0.1% per transaction (from 2026)
  • Ministry of Finance accepting license applications since 20/01/2026

Korea STO Regulatory

  • 01/2026: Parliament passed amendments to Capital Markets Act + Electronic Securities Act
  • 02/2027: Takes effect - legal framework for issuing tokenized securities on DLT
  • Allows tokenization of: real estate, music copyrights, art, livestock
  • "Qualified issuers" can directly issue and manage tokenized securities on blockchain

Key Platforms/Protocols

Platform Role Scale
Securitize Tokenization-as-a-service $4.6B+ AUM, 20% RWA market
Ondo Finance Tokenized treasuries + equities $650M+ TVL
Tokeny ERC-3643 compliance platform Creator of T-REX standard
Centrifuge Private credit tokenization Pioneer
Polymath/Polymesh Security token infrastructure ERC-1400 creator
Chainlink Oracle + DTA standard Swift integration, UBS/JPM partner

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