Hana Financial in talks with SK, Lotte to form won stablecoin alliance

Hana Financial Group is building a consortium to ensure the smooth distribution and expand the use of a won-based stablecoin, the Seoul Economic Daily reported. The group is reportedly in discussions with affiliates of SK, Lotte, Hanwha, and Eugene Group, as well as companies like Hyundai Card and Modetour, to form the consortium. The initiative is focused on creating a comprehensive distribution network for payments, settlements, and usage, separate from the coin's issuance consortium.