Hana Financial Group and Standard Chartered sign crypto partnership, plan stablecoin infrastructure

Hana Financial Group and Standard Chartered have signed a memorandum of understanding to develop regulated cryptocurrency services including stablecoin infrastructure, institutional custody, and cross-border payment solutions across Asia.

The partnership combines Hana’s 25% stake in BitGo Korea (a crypto custody platform launched in 2024 with SK Telecom) with Standard Chartered’s new spot trading and custody services launched in 2025.

The collaboration underscores how traditional global banks are increasingly integrating crypto infrastructure as institutional demand for regulated digital asset services grows.

Banks Move Deeper Into Digital Finance

The digital asset partnership between Hana Financial Group and Standard Chartered reflects a broader trend among global banks seeking to integrate cryptocurrency infrastructure into traditional financial systems.

Local media reports in South Korea say the agreement allows both companies to leverage their combined expertise and customer networks to accelerate the development of new blockchain-based financial services.

Hana Financial Group chairman Ham Young-joo said the digital asset partnership will play a critical role in shaping the institution’s future growth strategy.

“We will create new growth opportunities through synergy in digital assets and other future financial sectors,” Ham said in remarks cited by regional media outlets.

Executives at both banks believe the digital asset partnership will enable them to explore stablecoin infrastructure, institutional trading services, and other crypto-related innovations.

Hana’s Expanding Crypto Strategy

For Hana Financial Group, the new digital asset partnership builds on several years of investment in blockchain and digital asset technology.

In 2023, Hana Bank, the group’s flagship banking subsidiary, partnered with crypto custodian BitGo to develop digital asset custody solutions designed for institutional investors.

That initiative eventually expanded into the launch of BitGo Korea in 2024, a joint venture involving Hana Bank, BitGo, and South Korean telecom giant SK Telecom.

Hana Financial Group currently holds a 25% stake in the crypto custody platform, signaling the bank’s long-term commitment to digital asset infrastructure.

Market observers say the new digital asset partnership with Standard Chartered could help scale those services globally, particularly as institutional demand for regulated custody solutions continues to grow.

Standard Chartered Builds Global Crypto Platform

Meanwhile, Standard Chartered has also been steadily building its own presence in the digital asset industry.

In 2025, the London-headquartered lender became one of the first major global banks to introduce spot trading for Bitcoin and Ethereum for institutional clients.

The bank has also launched digital asset custody services across Europe and Asia, positioning itself as a bridge between traditional finance and the emerging crypto economy.

The digital asset partnership with Hana Financial Group could allow Standard Chartered to strengthen its foothold in Asia’s rapidly expanding blockchain market.

Financial technology strategist Geoffrey Kendrick has previously said institutional demand for digital assets is growing rapidly.

“The digital asset ecosystem is becoming an increasingly important component of the global financial system,” Kendrick noted in earlier research commentary.

Stablecoins Become Key Focus

One area where the digital asset partnership may generate significant activity is in the development and use of stablecoins.

Stablecoins cryptocurrencies pegged to traditional currencies such as the U.S. dollar are increasingly viewed by banks as a critical infrastructure layer for digital payments and cross-border settlement.

Reports suggest Standard Chartered could soon become one of the first institutions to obtain a stablecoin issuer license under Hong Kong’s new regulatory framework.

If approved, the digital asset partnership could allow the two financial giants to collaborate on regulated stablecoin issuance and payment solutions across Asia.

Industry experts say such initiatives could dramatically improve the efficiency of international financial transactions.

Strong Financial Performance Supports Expansion

The timing of the digital asset partnership comes as Hana Financial Group continues to report strong financial results.

According to company disclosures, the banking conglomerate recorded annualized net income exceeding 4 trillion Korean won in 2025 equivalent to roughly $2.67 billion.

Strong profitability provides Hana with the financial flexibility to invest in emerging technologies, including blockchain infrastructure and digital asset services.

Analysts say the digital asset partnership with Standard Chartered could allow both banks to capitalize on rising institutional interest in cryptocurrencies while maintaining regulatory compliance.

Global Banks Race Into Crypto

The Hana–Standard Chartered digital asset partnership is the latest example of how traditional financial institutions are embracing blockchain technology.

Major banks across the United States, Europe, and Asia have increasingly launched digital asset divisions to support institutional investors entering the crypto market.

For banks like Hana and Standard Chartered, partnerships may provide a faster route to building the infrastructure required to compete in the digital economy.

Industry observers say the digital asset partnership could serve as a blueprint for similar collaborations between global financial institutions seeking to expand into crypto services.

As blockchain technology continues to mature, alliances between established banks may become a defining feature of the next phase of digital finance.

For now, the new digital asset partnership signals that traditional banking giants are preparing for a future in which digital assets play a central role in global finance.