Dunamu, Hana Financial, POSCO International Sign MOU on GIWA Chain-Based Financial Infrastructure
Summary
- Dunamu said it signed a memorandum of understanding with Hana Financial Group and POSCO International to promote convergence across finance, digital assets and industry.
- The three companies said they will build infrastructure for real-time cross-border remittances, global cash management and more efficient payments based on GIWA Chain, while seeking new business opportunities in digital finance.
- They said they will use POSCO International's trade data on-chain to improve transparency and processing efficiency in inter-company settlement and expand their role in the digital finance ecosystem.
Forecast Trend Report by Period
Dunamu said on April 29 that it signed a memorandum of understanding with Hana Financial Group and POSCO International to cooperate on the convergence of finance, digital assets and industry.
The partnership will focus on building payment and settlement infrastructure for use in real-world finance and trade on Dunamu's layer-2 blockchain, GIWA Chain. The companies plan to link Hana Financial's foreign-exchange network with POSCO International's global supply chain and extend existing financial systems onto an on-chain framework.
The three companies will work to establish a real-time cross-border remittance system using GIWA Chain. They also plan to build infrastructure to improve global cash management and payment efficiency, while exploring new business opportunities in digital finance.
They will also test technology to shift message processing from the existing SWIFT network to a blockchain-based structure. The companies aim to use POSCO International's trade data in an on-chain environment to improve transparency and processing efficiency in business-to-business settlement.
Oh Kyung-seok, chief executive officer of Dunamu, said he expects GIWA Chain's technology to serve as a foundation for a more efficient and transparent on-chain financial environment. Dunamu will provide the technical support for changes blockchain could bring to the future of finance, he added.
Lee Eun-hyung, vice chairman of Hana Financial Group, called the agreement an important turning point in combining digital assets, traditional industry and finance. Commercializing the services will create new value for participants across the industrial ecosystem, he said.
Lee Gye-in, president of POSCO International, said the agreement laid the groundwork for a mid- to long-term partnership with leading South Korean companies in digital finance and digital assets. The three companies will expand their role in the digital finance ecosystem through the collaboration, he added.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
