Hana Financial partners with Dunamu on blockchain for remittances

Hana Financial Group is partnering with Dunamu, the operator of South Korean crypto exchange Upbit, to integrate blockchain technology into its overseas remittance and foreign exchange services, according to Yonhap News. The two companies announced on Dec. 4 that they had signed a memorandum of understanding for financial service development the previous day at Hana Financial's headquarters in Myeong-dong. Hana Financial plans to first apply the technology to remittances between Hana Bank's headquarters and its overseas branches and subsidiaries as early as the first quarter of next year, with a gradual expansion to follow. The group also intends to introduce new blockchain-based technologies to its broader foreign exchange operations and its Hana Money service.