South Korea's Hana Financial explores stablecoin adoption

Hana Financial Group is exploring stablecoins as a potential growth area amid changes in the financial sector.

Chair and CEO Ham Young-joo highlighted the need for the company to build an ecosystem for coin-based assets in his New Year’s address.

He noted that the regulatory environment for digital assets remains uncertain, making the impact of stablecoins difficult to predict.

Ham called for partnerships across industries and countries to prepare for broader stablecoin adoption.

He also said the group must reduce its dependence on traditional banking and expand into non-banking businesses as technology and money flows shift.

🧠 Food for thought

Implications, context, and why it matters.

Hana’s stablecoin push faces Korea’s unresolved regulatory clash over who can issue coins

Hana’s stablecoin plans hinge on a standoff between the Bank of Korea (BOK) and the Financial Services Commission (FSC) over issuer rules, with the Digital Asset Basic Act delayed to at least January 2026 1.
The BOK seeks 51% bank ownership in consortia to safeguard stability plus anti-money-laundering controls 2. The FSC warns this bar would sideline tech firms with blockchain skills and slow innovation 2.
Unclear rules on solo issuance or a bank‑majority group keep Ham Young-joo (Hana Financial Group chair and CEO) in wait mode 2. Stablecoin work will need partners even as non-banking units chase results.

Technology vendors can target Korean banks already piloting stablecoin infrastructure despite regulatory delays

BC Card finished a pilot that began in October 2025 with Waybridge, Aron Group, and GME Remittance, turning stablecoins into prepaid card balances for QR payments at Korean merchants 3.
KB Kookmin Bank, Shinhan Bank, and Hana work with Naver on fintech products plus explore collaboration with Dunamu 4. Woori Bank runs Samsung Wallet, which integrates Galaxy ecosystem payments 4.
These alliances open near-term work for vendors that deliver custody, reserve management, or payment rails, since banks cannot build blockchain stacks in time 4.
KakaoBank built a stablecoin task force preparing issuance and custody solutions, which signals imminent procurement for technical partners 4.