Mirae Asset, Hana Financial partner over security tokens

Home > Business > Finance

Mirae Asset, Hana Financial partner over security tokens

Published: 01 Jun. 2023, 16:52

Mirae Asset Securities Chairman Choi Hyun-man, right, and Hana Financial Group Chairman Ham Young-joo pose for a photo after signing a memorandum of understanding to collaborate on the security tokens business in central Seoul on Thursday. [MIRAE ASSET SECURITIES]

Mirae Asset Securities has partnered with Hana Financial Group to collaborate on security tokens, the company announced Thursday.

Hana will join Mirae Asset’s Next Financial Initiative, a security token consortium aimed at boosting the sector in Korea.

The consortium was formed with SK Telecom in March to generate synergy effects by combining Mirae Assset’s investment infrastructure and global network with SK Telecom’s technology and experience in operating web3 platforms.

Mirae Asset seeks to work together on token securities businesses and innovating paradigms in finance, it said in a statement after the two parties signed a memorandum of understanding for partnership.

The company aims to find measures to commercialize blockchain services with Hana Bank and create synergy effects on security tokens with Hana Securities.

The purpose of the Next Financial Initiative is to issue quality security tokens, discover blockchain-based services and prepare measures to protect investors.

The Financial Services Commission released guidelines on security tokens in February.

BY JIN MIN-JI [jin.minji@joongang.co.kr]