Hana Financial Group and Standard Chartered Group Form Strategic Alliance
In a significant move towards the integration of digital finance, Hana Financial Group from South Korea has formally entered into a memorandum of understanding with the global banking entity, Standard Chartered Group. Local sources reported on March 16 that this strategic alliance aims to blend their respective strengths and global reach to enhance their foothold in the conventional financial sector.
Focus on Digital Finance Initiatives
This collaboration is particularly focused on advancing initiatives surrounding digital finance, which includes the exploration of cryptocurrencies and stablecoins. Ham Young-joo, the Chairman of Hana Financial Group, highlighted the advantages of this partnership, stating:
“Leveraging both organizations’ vast networks and financial expertise will provide a competitive advantage in the changing landscape of global finance.”
He emphasized the potential for creating fresh growth avenues through synergy in emerging financial areas, especially in the realm of digital assets.
Hana Financial Group’s Initiatives in Digital Assets
Hana Financial Group, recognized as one of South Korea’s leading financial conglomerates, is already making strides in the digital asset realm. They have engaged in discussions concerning the issuance of stablecoins in collaboration with other prominent financial institutions, including KB Financial Group and Shinhan Financial Group. According to crypto.news, by November 2025, Hana plans to partner with these institutions and prominent tech firms to construct the essential infrastructure for stablecoins pegged to the Korean won and related digital payment mechanisms.
In 2023, Hana also aligned with crypto custodian BitGo to enhance its digital asset custody solutions, giving rise to BitGo Korea, where Hana has a 25% share.
Standard Chartered’s Developments in Cryptocurrency
On the other hand, Standard Chartered has been actively developing products associated with cryptocurrency exchange-traded funds (ETFs) and has entered various crypto-centric institutional services, such as launching spot trading desks for digital assets. Recently, it was disclosed that Standard Chartered is on track to secure a stablecoin issuance license in Hong Kong, aligning with local regulatory efforts to establish a robust digital asset framework. The bank had indicated earlier intentions to release a stablecoin pegged to the Hong Kong dollar through a newly formed joint venture.
