Hana Card Partners with Tether to Expand Stablecoin Collaboration

Hana Card is exploring the potential for linking domestic financial services with stablecoins through a partnership with Tether, a global stablecoin issuer.

On October 1, Hana Card announced that it has signed a memorandum of understanding (MOU) with Hana Bank and Tether to collaborate on integrating global stablecoins with domestic financial services.

Previously, Hana Card entered into a strategic partnership with Circle, the issuer of USDC, in December of last year. In March, it launched a stablecoin payment marketing initiative with Crypto.com, offering cashback on payments made by foreign visitors at domestic merchants. This latest agreement is expected to further expand Hana Financial Group's digital asset business.

Hana Financial Group recently completed the registration process for virtual asset service providers (VASP) with the Financial Intelligence Unit (FIU) through Bitgo Korea, a joint venture with global digital asset custodian Bitgo, on September 18. This move establishes a regulatory framework for digital asset custody services aimed at domestic institutions and corporations.

Additionally, the group is pursuing collaborations in payment sectors with global stablecoin issuers, overseas remittances based on Dunamu's Klaytn, and the establishment of infrastructure related to security token offerings (STO).

Hana Financial aims to build a comprehensive digital asset value chain encompassing issuance, custody, payment, remittance, and STO, while continuously expanding collaborations with major stablecoin issuers and digital asset infrastructure companies both domestically and internationally.