Hana Financial Group Partners with ADGM and Hanwha Asset Management to Build Stablecoin Payment Network

Hana Financial Group has partnered with Abu Dhabi Global Market (ADGM) and Hanwha Asset Management to establish a stablecoin-powered payment and remittance infrastructure linking South Korea and the Middle East.

The three entities signed a memorandum of understanding (MOU) on October 18 to collaborate on digital assets and cross-border financial infrastructure. They aim to combine their respective strengths in financial services, digital asset technology, and international networks to develop joint business models.

The institutions will jointly explore payment infrastructure using stablecoins and digital assets, seeking to expand overseas payment and remittance solutions between South Korea and Abu Dhabi while building a digital asset ecosystem applicable across different financial systems.

ADGM, established in 2015 in Abu Dhabi, United Arab Emirates (UAE), is an international financial center housing financial institutions, institutional investors, fintech, and digital asset companies. It has developed relatively early regulatory frameworks for digital assets, positioning itself as a hub for digital finance in the Middle East.

Hana Financial plans to expand its digital finance network in the Middle East through this partnership while exploring opportunities for stablecoin-based payment and remittance services. Hanwha Asset Management will contribute its experience in digital asset investment and financial infrastructure development to shape relevant business models.

A Hana Financial representative stated, 'This agreement marks the starting point of digital financial collaboration connecting Abu Dhabi and South Korea markets,' adding that they aim to leverage each institution's expertise and global networks to develop practical business models in digital assets and cross-border finance.

As major countries accelerate efforts to establish stablecoin regulatory frameworks, competition among financial institutions to enter the market is intensifying. Beyond simple digital asset investment, securing financial infrastructure applicable to real-world economic activities such as trade payments and overseas remittances has become a key competitive area.