Hana Financial Group will work with Standard Chartered on digital assets after working with USDC issuer Circle on stablecoins earlier this month.
Standard Chartered and Hana Financial Group, one of South Korea’s biggest financial groups, are working together on finance and digital assets.
Hana Financial stated on Sunday that it has inked a commercial deal with the UK’s Standard Chartered Group (SC Group) to work together in the domains of global finance and digital assets, according to Yonhap News.
The agreement covers collaboration in various global financial sectors, including investment banking, money markets, foreign exchange and digital assets.
Hana Financial chairman Ham Young-joo said, “We will create new growth opportunities by generating synergies in future financial areas, including digital assets.” He also said that the firms plan to use their large networks and wide range of financial knowledge.
Hana expands its push into digital finance
Hana Financial’s cooperation with Standard Chartered builds on the company’s work with digital assets after working with big names in the crypto business.
Reports say that on March 5, the South Korean giant stated it has teamed up with Circle, the USDC USDC$1 issuer, and Crypto.com, a major US crypto exchange. Hana Financial promised to promote stablecoin-based payments for overseas tourists to the country as part of the agreement.
The corporation reportedly added, ‘Through this initiative, we seek to confirm the growth potential of stablecoins as a payment tool, expanding cooperation with global digital asset operators. This indicates that the company is serious about finding real-world uses for stablecoins.
Standard Chartered deepens focus on Asia
Bill Winters, the CEO of Standard Chartered, stressed how important the Asian financial market is to the cooperation.
He stated, “Korea is a key hub of the Asian financial market, and working with Hana Financial Group, which is strong in global markets, will be an important step forward for our global network business.”
On Friday, it was announced that Standard Chartered was one of at least two corporations that will get approvals from the Hong Kong government to issue stablecoins in late March.