South Korea’s Hana Financial and Standard Chartered partner to explore crypto and stablecoins
South Korea’s Hana Financial Group has signed a memorandum of understanding with the Standard Chartered Group to collaborate on digital asset initiatives.
- Hana Financial Group has signed a memorandum of understanding with Standard Chartered to cooperate on digital asset initiatives, including potential work around stablecoins.
- The partnership brings together the two banks’ global networks and financial expertise as they explore cryptocurrency-related services.
- Hana has continued to expand its digital asset footprint through custody services and stablecoin research.
Local media reports from March 16 claim that the two institutions plan to leverage their combined expertise and global networks to expand their presence in traditional finance.
As part of the partnership, the two companies will also explore joint initiatives in digital finance involving cryptocurrencies. Reports suggested the plans also include stablecoins.
“The partnership between Hana Financial Group and Standard Chartered Group, leveraging their extensive global networks and diverse financial know-how, will serve as a strong competitive edge in the global financial sector.’ Ham Young-joo, Chairman of Hana Financial Group, said in an accompanying statement.
‘We will create new growth opportunities by generating synergies in future financial domains, including digital assets,” he added.
Traditional firms are tapping into the blockchain
Recently, both firms have been stepping up their involvement in digital asset markets as banks around the world look to integrate blockchain-based financial services.
Hana Financial Group is one of South Korea’s major financial conglomerates, and it has already explored stablecoin issuance through a partnership with KB Financial Group and Shinhan Financial Group.
As reported by Coin Insider Daily on Nov. 10, 2025, Hana will work with the other financial groups and major technology companies to develop the infrastructure required for potential Korean won pegged stablecoins and related digital payment systems.
Back in 2023, Hana partnered with crypto custodian BitGo to develop its digital asset custody services. Subsequently, the two and local telecommunications giant SK Telecom set up BitGo Korea, where Hana owns a 25% stake.
Meanwhile, Standard Chartered has launched products tied to crypto ETFs and has also ventured into other crypto-facing institutional services, including spot crypto trading desks and regulated digital asset custody.
Earlier this month, it was revealed that the banking giant was also set to receive a stablecoin issuance license in Hong Kong as part of the city’s effort to build a regulated digital asset ecosystem. It had previously signalled plans to issue a Hong Kong dollar pegged stablecoin through a joint venture.
