Dunamu to jointly develop blockchain-based financial services with Hana Financial Group

Blockchain and fintech specialist Dunamu announced on the 4th that it has signed a memorandum of understanding (MOU) with Hana Financial Group to jointly develop blockchain-based financial services.

The two companies will pursue ▲the establishment of a blockchain-based overseas remittance process, ▲the introduction of new foreign exchange-related technologies, and ▲the advancement of the Hana Money service. In the process, Dunamu will provide its own blockchain 'Giwa Chain (GIWA Chain)' and technical capabilities and support the design of new financial infrastructure.

The blockchain-based overseas remittance process is expected to be applied in the first quarter of next year and will be first introduced for remittances between Hana Bank's head office and its overseas subsidiaries and branches. The two companies plan to gradually expand the infrastructure and systems in stages in line with technology verification and policy changes.

Oh Kyung-seok, CEO of Dunamu, said, "If the commercialization of stablecoins proceeds, blockchain infrastructure such as chains and wallets will become widespread," and "Existing financial services will transition to web3-based models."