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Korea Hana Financial Group and Standard Chartered Group Sign Cooperation Memorandum to Explore Digital Asset Business Including Stablecoins
Odaily Planet Daily reports that South Korea’s major financial group Hana Financial Group has signed a memorandum of understanding with Standard Chartered, planning to collaborate in the digital asset sector.
The two institutions will leverage their respective financial networks and industry experience to explore new business opportunities in traditional and digital finance, including projects related to cryptocurrencies such as stablecoins. Hana Financial Group Chairman Ham Young-joo stated that both parties aim to create new growth opportunities through collaborative efforts in digital assets and other future financial areas.
In recent years, Hana Financial Group has been actively expanding its digital asset business. In 2023, Hana Bank partnered with crypto custody provider BitGo to develop crypto custody services and subsequently co-founded BitGo Korea with SK Telecom, in which Hana holds about 25% of the shares. Meanwhile, Standard Chartered is also accelerating its digital asset initiatives, offering spot trading services for Bitcoin and Ethereum to institutional clients and providing digital asset custody services in Europe and Asia. (The Block)