Hana Financial to Build Blockchain Cross-Border Payments System With Lambda256

Hana Financial Group is pushing ahead with a blockchain-based cross-border remittance and payments system with Lambda256, the blockchain company under Dunamu.

Hana recently started work on the system with Lambda256, the Herald Business reported on Aug. 6.

In May, Hana Financial acquired a 6.55% stake in Dunamu for about 1 trillion won ($720 million), becoming its fourth-largest shareholder. Hana Financial and Dunamu also held a private executive meeting in July to discuss future cooperation.

Cross-border remittance and payments emerged at the time as a key area for cooperation, combining Hana Financial's strength in foreign-exchange services with Dunamu's blockchain technology. The collaboration with Lambda256 is part of that broader partnership between the two companies.

Hana Financial Group Chairman Ham Young-joo named stablecoins as a key new business in his New Year's message this year. He said the group should become a market architect that leads the design of a complete ecosystem covering stablecoin issuance, distribution, use and recirculation.