Deal lays groundwork for Korea-Abu Dhabi cross-border financial cooperation

Partners to jointly explore digital asset infrastructure opportunities

Hana Financial Group Executive Vice President Eom Tae-sung (right), ADGM Registration Authority CEO Rashed Abdulkarim Al Blooshi and Hanwha Asset Management Executive Vice President Baek Seung-pil pose for a photo after signing a three-way MOU on stablecoin cooperation and cross-border financial infrastructure between Korea and Abu Dhabi. [Hana Financial Group]
Hana Financial Group Executive Vice President Eom Tae-sung (right), ADGM Registration Authority CEO Rashed Abdulkarim Al Blooshi and Hanwha Asset Management Executive Vice President Baek Seung-pil pose for a photo after signing a three-way MOU on stablecoin cooperation and cross-border financial infrastructure between Korea and Abu Dhabi. [Hana Financial Group]

Hana Financial Group announced Friday that it has signed a three-way MOU with Hanwha Asset Management and Abu Dhabi Global Market (ADGM) to cooperate on stablecoin initiatives.

The agreement aims to jointly identify new business opportunities by leveraging the financial and digital asset expertise and global networks of all three parties, while building a foundation for cross-border financial cooperation linking Korea and Abu Dhabi.

Under the MOU, the three organizations agreed to collaborate across several areas: jointly exploring business opportunities related to stablecoins and other digital asset and payment infrastructure; strengthening financial connectivity through the expansion of cross-border payment and remittance solutions; and fostering a sustainable and interoperable digital asset ecosystem.

ADGM is an international financial center established in Abu Dhabi, UAE, in 2015, bringing together global financial firms, institutional investors, and fintech and digital asset companies.

ADGM has proactively developed a regulatory framework and institutional foundation for digital assets, and has been positioning itself as a global financial and digital asset hub by actively promoting digital assets as a core strategic priority.

The signing ceremony was held Wednesday at the JW Marriott Hotel in Banpo-dong, Seocho-gu, Seoul, with key attendees including Hana Financial Group Executive Vice President Eom Tae-sung, ADGM Registration Authority CEO Rashed Abdulkarim Al Blooshi and Hanwha Asset Management Executive Vice President Baek Seung-pil.

"This agreement is significant as a starting point for new cooperation connecting Abu Dhabi — a growing global digital finance hub — with the Korean financial market," a Hana Financial Group official said. "We will work to develop practical cooperation models in digital assets and cross-border finance, drawing on the expertise and global networks each institution brings."

Last month, Hana Financial completed the registration of BitGo Korea — a virtual asset service provider it co-founded with digital asset infrastructure firm BitGo — with South Korean authorities.


hyuk@heraldcorp.com