South Korea’s push toward bank-backed stablecoins is rapidly turning into a race for control, as Hana Financial Group moves to lock in partners early—potentially squeezing rivals as regulatory limits make it difficult for more than a handful of issuance groups to form.
Hana Financial Group said it has effectively secured a six-institution lineup for a stablecoin issuance consortium, drawing in BNK Financial Group (parent of Busan Bank and Kyongnam Bank), iM Financial Group (iM Bank), Standard Chartered First Bank Korea (SC First Bank), OK Savings Bank, and JB Financial Group (linked to… Read more
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