Hana Financial, ADGM and Hanwha Asset to Pursue Stablecoin Payments Network Linking Korea and Abu Dhabi

Hana Financial Group is joining with Abu Dhabi Global Market, or ADGM, and Hanwha Asset Management to pursue a stablecoin-based payments and remittance infrastructure linking South Korea and the Middle East.

Hana Financial said on September 18 that the three parties signed a memorandum of understanding on cooperation in digital assets and cross-border financial infrastructure. The agreement aims to combine each institution’s capabilities in financial services, digital-asset technology and overseas networks to identify joint business models.

The three institutions will jointly examine payments infrastructure projects using stablecoins and digital assets. They plan to expand cross-border payment and remittance solutions between South Korea and Abu Dhabi and build a digital-asset ecosystem that can be used across different financial systems.

Established in Abu Dhabi, United Arab Emirates, in 2015, ADGM is an international financial center home to financial firms, institutional investors, fintech companies and digital-asset businesses. It moved relatively early to put in place a regulatory framework for digital assets and has established itself as a digital-finance hub in the Middle East.

Through the agreement, Hana Financial plans to expand its digital-finance network in the Middle East and explore business opportunities in payments and remittances using stablecoins. Hanwha Asset Management will participate in developing related business models based on its experience in digital-asset investment and financial infrastructure.

“This agreement marks the starting point for digital-finance cooperation linking Abu Dhabi and the South Korean financial market,” a Hana Financial official said. The company added that it would use each institution’s expertise and global network to identify practical business models in digital assets and cross-border finance.

As major economies speed up efforts to establish stablecoin regulatory frameworks, competition among financial companies to enter the market is also intensifying. Beyond simple digital-asset investment, securing financial infrastructure that can be applied to the real economy, including trade settlement and overseas remittances, is emerging as a key competitive battleground.