Hana Financial Group of South Korea and Standard Chartered Group signed a memorandum of understanding to explore digital asset businesses such as stablecoins.

Hana Financial Group, a major South Korean financial conglomerate, has signed a memorandum of understanding with Standard Chartered to collaborate on digital assets. The report states that the two institutions will combine their respective financial networks and industry experience to explore new business opportunities in traditional and digital finance, including cryptocurrency-related projects such as stablecoins. Ham Young-joo, Chairman of Hana Financial Group, stated that the two companies will create new growth opportunities through synergistic cooperation in future financial areas such as digital assets. In recent years, Hana Financial Group has been continuously expanding its digital asset business. In 2023, Hana Bank partnered with crypto custody provider BitGo to advance its crypto custody services, and subsequently established BitGo Korea with SK Telecom, with Hana holding approximately 25% of the shares. Meanwhile, Standard Chartered is also accelerating its digital asset business, already providing spot trading services for Bitcoin and Ethereum to institutional clients and offering digital asset custody services in Europe and Asia. (The Block)