Hana Securities said on the 14th that on the 11th it signed a memorandum of understanding (MOU) with Upbit Global at Hana Securities' headquarters in Yeouido, Seoul, for business cooperation in digital asset and finance.
Upbit Global is a Singapore-based holding company that oversees Upbit's overseas digital asset business. With this agreement, the two companies plan to combine their finance and asset management capabilities with digital asset technology and a global network to identify new business opportunities.
The key areas of cooperation are ◇ developing business models for digital asset management ◇ designing and launching digital asset-related products and services ◇ building digital asset-related infrastructure and systems ◇ and joint investment for digital asset businesses. They plan to discuss specific cooperation measures by comprehensively considering relevant regulations and market conditions.
Hana Securities operates the asset manager HAMA (Hana Asset Management Asia) in Singapore. Upbit Global is expanding its overseas digital asset business with Singapore as its base. The two companies plan to gradually explore various possibilities for cooperation centered on Singapore by leveraging their respective local business bases and networks.
In addition to the main cooperation areas, they will continue to identify opportunities for collaboration within their overseas networks and the scope of their licenses. They plan to strengthen competitiveness in digital asset finance based on regulatory compliance and investor protection.
Kang Seong-muk, CEO of Hana Securities, said, "Hana Securities is accelerating its digital asset-related business to quickly build a foundation for issuing and trading traditional financial products such as stocks, bonds, and funds in token form," and added, "we will gradually build related infrastructure, including an issuance platform, in step with the pace of STO institutionalization and actively prepare for the full-fledged STO market next year."
Kim Guk-hyeon, CEO of Upbit Global, said, "This agreement will serve as an opportunity to seek new cooperation based on expertise in traditional finance and digital assets," and added, "by leveraging the technology and overseas business experience held by Upbit Global, we will identify practical cooperation measures and contribute to building a trustworthy digital asset finance ecosystem."