Hana Bank is collaborating with Upbit Global to ensure regulatory compliance and build infrastructure for digital asset transfers.
On September 22, Hana Bank announced that it signed a memorandum of understanding (MOU) with Upbit Global at its headquarters in Jung-gu, Seoul, focusing on the safe transfer of digital assets and establishing a foundation for regulatory compliance centered around the Travel Rule.
The Travel Rule requires verification of sender and receiver information when transferring virtual assets and mandates that necessary information be shared with the counterparties.
Through this agreement, the two companies will jointly respond to changes in laws and regulations related to digital assets and research the technology and infrastructure needed for the implementation of the Travel Rule. They will also explore ways to connect financial institutions with domestic and international virtual asset businesses.
In particular, they plan to jointly examine the technology necessary for verifying sender and receiver information and ensuring secure information transmission to comply with regulations.
Hana Bank aims to leverage its experience in foreign exchange and payment services, along with its overseas network, to identify new services and business opportunities related to digital assets in the future.
* This article has been translated by AI.
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