Hana Financial Group has signed an agreement with Standard Chartered to cooperate on digital asset initiatives. The partnership signals deeper engagement from two major banking groups as stablecoins and crypto infrastructure move further into mainstream finance.
The memorandum of understanding outlines joint exploration of digital finance opportunities, including stablecoins and cryptocurrency-related services. Local media reports said the collaboration will also focus on expanding the two banks’ global reach in traditional financial markets.
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The agreement brings together a major South Korean financial conglomerate and one of the most active global banks in institutional crypto. Hana Financial Group reported annualized net income exceeding 4 trillion Korean won in 2025, roughly $2.67 billion at current exchange rates.
Will Bank Partnerships Accelerate Stablecoin Adoption?
Large financial institutions have steadily increased exposure to digital assets. Standard Chartered launched spot bitcoin and ether trading services for institutional clients in 2025 while expanding custody offerings across Europe and Asia.
Hana Financial Group has followed a similar path inside South Korea. In 2023, Hana Bank partnered with crypto custodian BitGo to develop a digital asset custody platform, and later joined BitGo and SK Telecom to establish BitGo Korea. Hana holds a 25% stake in the joint venture.
The collaboration with Standard Chartered could broaden that strategy into global markets. If both institutions align custody, trading, and stablecoin initiatives, they could create cross-border financial rails linking Asia’s banking sector with international crypto infrastructure.
“We will create new growth opportunities through synergy in digital assets and other future financial sectors,” said Ham Young-joo, chairman of Hana Financial Group.
Regulatory developments may also shape the partnership’s direction. Standard Chartered is widely expected to be among the first institutions to receive a stablecoin issuer license in Hong Kong, according to recent media reports.
That potential license could give the partnership a regulated framework for stablecoin distribution across Asia. The next catalyst may emerge once Hong Kong finalizes approvals and banks begin testing stablecoin issuance within regulated financial networks.
