Hana Financial Group, one of South Korea’s largest financial conglomerates, has partnered with Standard Chartered on finance and digital assets.
On Sunday, Hana Financial said it signed a business agreement with the United Kingdom’s Standard Chartered Group (SC Group) for cooperation in global financial business and digital asset fields, Yonhap News reported.
The agreement covers collaboration in various global financial sectors, including investment banking, money markets, foreign exchange and digital assets.
“We will create new growth opportunities by generating synergies in future financial areas, including digital assets,” Hana Financial chairman Ham Young-joo said, adding that the companies aim to deploy their extensive networks and diverse financial expertise.
Cointelegraph reached out to Hana Financial and Standard Chartered for comment, but had not received a response by publication.
Hana expands digital finance ties
Hana Financial’s partnership with Standard Chartered expands the company’s digital asset efforts after recently collaborating with major crypto industry players.
Related: South Korea plans to use AI for crypto tax enforcement
On March 5, the South Korean conglomerate reportedly said it has partnered with the USDC (USDC) issuer Circle and major US crypto exchange Crypto.com. As part of the partnership, Hana Financial pledged to promote stablecoin-based payments for foreign visitors in the country.
“Through this initiative, we seek to confirm the growth potential of stablecoins as a payment tool, expanding cooperation with global digital asset operators,” the company reportedly said, highlighting its commitment to exploring real-world applications of stablecoins.
Standard Chartered strengthens presence in Asia
Standard Chartered CEO Bill Winters emphasized the importance of the Asian financial market in the partnership.
“Korea is a key hub of the Asian financial market, and cooperation with Hana Financial Group, which is strong in global markets, will be an important milestone for our global network business,” he said.
On Friday, Standard Chartered was reported to be one of at least two companies set to receive stablecoin issuer approvals in Hong Kong in late March.
Magazine: China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express
