Hana Financial | Crypto

The purchase makes Hana Financial the fourth-largest shareholder in Dunamu, following several crypto-related deals in the last two months, as it dives deeper into the digital assets sector. Major South Korean financial conglomerate Hana Financial is buying a stake in Dunamu, the operator of the crypto exchange Upbit, in its latest venture into the digital assets sector, amid a broader trend of traditional financial institutions wading into the digital assets market. In a regulatory filing on Friday, Hana Financial announced it is buying more than 2.2 million shares in Dunamu, or roughly 6.55% of the company, from investment firm Kakao Investment, worth over 1.003 trillion Korean won ($668 million). Hana Financial’s 6.55% stake from Kakao makes it the fourth-largest Dunamu shareholder. South Korean outlet The Chosun Daily reported last September that major shareholders of Dunamu include its chairman Song Chi-hyung with 25.5%; Vice Chairman Kim Hyoung-nyon with 13.1%; Kakao with 10.6% and Woori Technology Inves...

South Korea's Hana Financial, POSCO International and Upbit operator Dunamu have moved their blockchain remittance system into live trade transactions. South Korea's Hana Financial Group, POSCO International and Dunamu, the operator of the crypto exchange Upbit, have signed a trilateral memorandum of understanding (MoU) to launch their blockchain-based remittance system, with POSCO International serving as the first real-world test case. The agreement, signed Tuesday at Hana Financial Group's Seoul headquarters, follows a successful proof-of-concept (PoC) completed earlier this year by Hana and Dunamu, which showed that blockchain could reduce settlement times and costs compared to the traditional SWIFT framework. That pilot used Dunamu's proprietary GIWA Chain to replace SWIFT's messaging network for cross-border transfers. The new MoU allows the system to be tested on real trade transactions for the first time, with POSCO International handling the actual fund flows, the company said in a Wednesday announce...

Hana Financial Group will collaborate with Standard Chartered on digital assets following its stablecoin partnership with USDC issuer Circle earlier in March. 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. Read more