- Hana Financial and Dunamu expand partnership into digital finance.
- Firms target won stablecoins, STOs, and RWA tokenization.
- Alliance aims to improve cross-border payments using blockchain.
Hana Financial Group and Dunamu are expanding their relationship beyond an investment partnership, setting up a broader alliance focused on digital financial services. The two are looking to combine blockchain infrastructure with traditional banking systems to develop products spanning payments, tokenized assets, stablecoins, and wealth management.
The move follows Hana Bank’s acquisition of a roughly 1 trillion won ($700-$720 million) stake in Dunamu in May, giving the bank a 6.6% ownership position and making it one of the crypto firm’s largest shareholders. The investment has now become the foundation for a wider technology and business partnership.
Stablecoins and Tokenized Assets Take Center Stage
According to reports from South Korea’s financial sector, senior executives from both companies recently held a private meeting to discuss their long-term roadmap. Hana Financial Chairman Ham Young-joo, Vice Chairman Lee Eun-hyung, and Dunamu Vice Chairman Kim Hyung-nyeon attended the discussions.
The alliance is centered on three key areas: Korean won-backed stablecoins, security token offerings (STOs), and real-world asset (RWA) tokenization.
The companies are studying ways to combine traditional banking products such as deposits and investment accounts with digital asset holdings into a single portfolio. The long-term objective is to build integrated wealth management services that give customers a complete view of their assets while offering personalized financial products.
They are also discussing joint products and marketing initiatives ahead of South Korea’s planned opening of the corporate virtual asset market.
Blockchain Payments Expand Beyond Crypto
Traditional international transfers often rely on multiple intermediary banks, increasing both settlement time and transaction costs. Hana Financial and Dunamu believe blockchain-based settlement networks can shorten the process while lowering expenses.
Hana Financial brings an extensive foreign exchange business and overseas banking network, while Dunamu is developing its own Web3 infrastructure known as “Tiles.” The companies are exploring how these capabilities could support trade settlement, international remittances, and corporate fund transfers.
The broader plan also includes discussions around exporting blockchain-based financial services developed in South Korea through Hana Financial’s international banking network, an initiative internally described as “K Blockchain Finance.”
Previous Agreement Built the Foundation
The alliance builds on an agreement signed in December last year to jointly develop blockchain-powered financial services.
At the time, the companies announced plans for a blockchain-based overseas remittance system designed to simplify international transfers by recording account information on a blockchain ledger.
Hana Financial said the system would make cross-border payments faster, more secure, and less expensive for both retail customers and businesses.
The bank planned an initial rollout between its Seoul headquarters and overseas branches as early as the first quarter of the following year before expanding the service after internal testing and regulatory review.
The December agreement also covered improvements to Hana’s foreign exchange operations and its Hana Money membership platform.
Related: South Korea Expands Blockchain Plans Alongside AI Investment Push
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