Hana Securities, the brokerage arm of South Korea’s Hana Financial Group, has agreed to cooperate with Upbit Global on digital asset and financial services, using Singapore as a base for the partnership.
The companies signed a memorandum of understanding on Sept. 11 at Hana Securities’ headquarters in Yeouido, Seoul. The agreement covers digital asset investment models, product and service development, technology infrastructure, and potential joint investments, according to reports.
The partnership marks a move beyond exploring investment concepts toward developing products and building systems that could support digital asset-related financial services. Both companies already maintain operations in Singapore, giving the city-state a potential regional base for the collaboration.
Partnership Targets Digital Asset Products
Upbit Global is a Singapore-based holding company responsible for overseeing Upbit’s international digital asset operations. Hana Securities brings expertise in brokerage, finance and asset management to the partnership.
The companies plan to work across several areas, including the development of digital asset investment business models, related financial products and services, infrastructure and systems. They also intend to examine opportunities for joint investments.
The partnership is designed to combine Hana Securities’ financial and asset-management capabilities with Upbit Global’s digital asset expertise to develop investment products, services and infrastructure for the emerging digital asset market.
Hana Securities operates Hana Asset Management Asia in Singapore, while Upbit Global conducts much of its overseas business from the city-state. The existing presence of both companies could provide an operational foundation for expanding their cooperation across the region.
Specific business plans are expected to be determined gradually, with regulatory requirements and market conditions influencing the timing and structure of any new services. The agreement therefore establishes a framework for cooperation rather than committing the companies to an immediate product launch.
Hana Securities Prepares for Tokenized Securities
The agreement comes as South Korea moves toward establishing a regulatory framework for security token offerings, or STOs. Hana Securities has been preparing infrastructure to participate in the tokenization of traditional financial assets.
The brokerage plans to develop an issuance platform in stages that could eventually support the issuance and trading of tokenized versions of conventional products such as stocks, bonds and funds.
Chief Executive Kang Sung-mook said the company intends to develop the platform in step with the country’s STO legalization process and prepare for the market’s expected expansion next year, as per reports.
The strategy reflects a broader effort by financial institutions to prepare for the potential convergence of traditional securities markets and blockchain-based infrastructure. For Hana Securities, the Upbit Global relationship could provide access to digital asset technology and distribution capabilities while regulatory rules for tokenized securities continue to take shape.
Singapore Provides Regional Base
Singapore is expected to play an important role in the partnership because both companies already have established operations there. The city-state has also become an important hub for financial technology and digital asset businesses in Asia.
The collaboration could allow the companies to test business models and develop infrastructure within the limits of their existing licenses and networks. Any expansion into new services will remain subject to applicable regulations.
For Hana Securities, the tie-up could provide a pathway into digital asset markets while giving Upbit Global an opportunity to connect its international digital asset business with traditional brokerage and wealth-management capabilities.
The partnership also highlights the growing importance of collaboration between established financial institutions and digital asset companies as tokenized securities markets develop.
Regulatory Timeline Remains Key
Despite the expanded cooperation, the companies have not provided a fixed timetable for launching specific products. The pace is expected to depend heavily on South Korea’s legislative and regulatory progress surrounding STOs and related digital asset activities.
The report indicates that both sides intend to expand cooperation within the scope of their existing licenses and business networks. Their immediate focus is therefore on developing the foundations for digital asset investment products and tokenized financial services rather than announcing a large-scale commercial rollout.
For investors and financial institutions, the partnership provides another indication that blockchain-based assets are increasingly being considered alongside conventional financial products. The eventual impact will depend on regulation, market demand, and the ability of the two companies to translate their agreement into commercially viable services.