Seoul: Hana Bank, a prominent commercial bank in South Korea, has entered into a partnership with Circle, the organization responsible for managing USDC, a stablecoin linked to the U.S. dollar. This collaboration aims to explore potential business opportunities within the stablecoin sector, as confirmed by officials on Monday.
According to Yonhap News Agency, the foundation of this partnership can be traced back to a comprehensive business agreement that Hana Bank and Circle signed in May. Despite the formal agreement, a Hana Bank official has stated that no specific details have been finalized at this stage.
This move signifies Hana Bank’s proactive approach towards expanding its presence in the stablecoin industry. In line with this strategy, the bank took a significant step in June by applying for trademark registration for 16 stablecoin brands.