Hana Financial partners with Standard Chartered to expand digital asset services

South Korea’s Hana Financial Group and London-based Standard Chartered have signed a memorandum of understanding to collaborate on digital assets, including cryptocurrencies and stablecoins. The banks plan joint work in areas such as custody and trading as they develop digital finance services.

The agreement is designed to combine the firms’ expertise and networks to expand digital finance and support international growth. Terms, rollout plans and timing were not disclosed.

“We will create new growth opportunities through synergy in digital assets and other future financial sectors,” according to Hana Financial Group chairman Ham Young-joo.

Both organizations have been expanding in digital asset services. In 2023, Hana Bank partnered with crypto custodian BitGo to develop a custody platform. In 2024, Hana, BitGo and SK Telecom formed BitGo Korea, with Hana holding a 25% stake. Hana Financial Group reported record annualized net income of more than 4 trillion Korean won in 2025, about $2.67 billion at current exchange rates.

Standard Chartered has advanced its institutional crypto offering. In 2025, the bank launched spot bitcoin and ether trading for institutional clients and provides digital asset custody across Europe and Asia. The collaboration is intended to align existing projects at both firms and explore new business in custody, trading and stablecoin services. Further details and timing were not disclosed.

As we covered previously, Standard Chartered is in the first batch of Hong Kong stablecoin licenses, with decisions possible around March 24.