Hana Financial Group has entered into a memorandum of understanding with Standard Chartered Group to promote collaborative efforts in digital asset innovations.

Summary

  • The memorandum between Hana Financial Group and Standard Chartered outlines a cooperative approach to digital asset projects, emphasizing stablecoin development.
  • This alliance will leverage the strengths of both banks’ extensive global frameworks and financial acumen to explore services related to cryptocurrency.
  • Hana Financial Group has been actively advancing its presence in the digital asset sector through initiatives in custody services and investigations into stablecoin functionalities.

Reports from March 16 highlight that both financial institutions aim to utilize their combined expertise and international networks to enhance their roles in the traditional finance landscape.

The partnership is set to involve collaborative efforts in digital finance focused on cryptocurrency, with particular attention on stablecoins.

“The alliance between Hana Financial Group and Standard Chartered Group, leveraging their vast global networks and diverse financial insights, is poised to create a strong competitive advantage in the global finance arena,” commented Ham Young-joo, Chairman of Hana Financial Group.

He further stated, “We aim to generate new growth avenues by harmonizing our efforts in forward-looking financial sectors, such as digital assets.”

Both institutions have recently intensified their engagement in digital asset markets as banks worldwide seek to incorporate blockchain technology into financial services.

As one of South Korea’s prominent financial conglomerates, Hana Financial Group has explored stablecoin issuance in collaboration with KB Financial Group and Shinhan Financial Group.

In a recent report by crypto.news dated November 10, 2025, Hana is said to be working alongside other financial entities and technology giants to create the infrastructure necessary for potential stablecoins pegged to the Korean won and associated digital payment systems.

In 2023, Hana joined forces with crypto custodian BitGo to enhance its digital asset custody offerings. The collaboration led to the establishment of BitGo Korea, where Hana holds a 25% ownership stake, alongside tech powerhouse SK Telecom.

On the other hand, Standard Chartered has also rolled out products linked to crypto ETFs and has ventured into crypto-facing institutional services, including spots for crypto trading desks and authorized digital asset custody solutions.

Earlier this month, it was announced that Standard Chartered would soon acquire a stablecoin issuance license in Hong Kong to support the city’s initiative to develop a regulated digital asset ecosystem. The bank has previously expressed intentions to issue a Hong Kong dollar-pegged stablecoin through a joint venture.