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

Hana Securities said on September 14 that it signed a memorandum of understanding with Upbit Global on September 11 at its headquarters in Seoul's Yeouido for cooperation in digital-asset and financial businesses.

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

Overseas, the companies will explore cooperation opportunities centered on Singapore. They plan to use their overseas networks and licenses to identify business opportunities and expand digital-asset financial businesses 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.