South Korea's Hana Financial Group Signs MOU with Standard Chartered Group to Explore Stablecoin and Other Digital Asset Businesses

Odaily News: South Korea's major financial group, Hana Financial Group, has signed a Memorandum of Understanding (MOU) with Standard Chartered Group to collaborate in the field of digital assets.

Reports indicate that the two institutions will combine their respective financial networks and industry experience to explore new business opportunities in both traditional and digital finance. This includes cooperation projects related to cryptocurrencies, such as stablecoins. Ham Young-joo, Chairman of Hana Financial Group, stated that both parties will create new growth opportunities through synergistic cooperation in future financial areas like digital assets.

In recent years, Hana Financial Group has been continuously expanding its digital asset business. In 2023, Hana Bank partnered with crypto custodian BitGo to advance the development of crypto custody services. Subsequently, it co-founded BitGo Korea with SK Telecom, with Hana holding approximately a 25% stake. On the other hand, Standard Chartered Group is also accelerating its digital asset business, having already provided institutional clients with Bitcoin and Ethereum spot trading services, and offering digital asset custody services in Europe and Asia. (The Block)