Hana Securities Signs MOU With Upbit Global on Digital-Asset, Finance Businesses

Hana Securities said Sept. 14 that it signed a memorandum of understanding with Upbit Global on Sept. 11 at its headquarters in Seoul's Yeouido district for business cooperation in the digital-asset and finance sectors.

Under the agreement, the companies plan to cooperate on developing business models for digital-asset management, designing and launching related products and services, building infrastructure and systems, and making joint investments. Specific projects will be pursued with consideration for relevant regulations and market conditions.

Overseas, the companies will explore cooperation opportunities centered on Singapore. Using their overseas networks and licenses, they aim to identify business opportunities and expand digital-asset financial services on the basis of regulatory compliance and investor protection.

Hana Securities also plans to use the partnership to enter the security token offering, or STO, market. It aims to build a foundation for issuing and trading tokenized traditional financial products such as stocks, bonds and funds, and to gradually establish related infrastructure, including an issuance platform, in line with the institutionalization of STOs.