Hana Securities signed a memorandum of understanding with Singapore-headquartered Upbit Global on Sept. 11 at its headquarters in Seoul’s Yeouido district to expand cooperation in digital assets and finance. The partnership combines Hana’s financial and asset-management capabilities with Upbit Global’s digital-asset technology and overseas network. Planned work includes developing digital-asset management models, designing products and services, building infrastructure and systems, and pursuing joint investments, with specific approaches to be determined in phases based on regulations and market conditions. The companies will use their Singapore foundations, including Hana’s HANA Asset Management Asia and Upbit Global’s overseas operations hub. Hana also plans to build infrastructure, including an issuance platform, for the tokenized issuance and trading of stocks, bonds and funds as South Korea moves toward security token offering institutionalization. The firms said they will cooperate within their networks and licenses while emphasizing regulatory compliance and investor protection. Singapore’s licensing framework for digital payment token services, established under the 2019 Payment Services Act and subsequently linked to stronger oversight, provides the regulatory backdrop for the partnership. Upbit Global CEO Kim Kuk-hyun said the agreement would support practical cooperation between traditional finance and digital-asset businesses, while Hana Securities CEO Kang Sung-mook said the company is preparing for the STO market’s full-scale launch next year.