Hana Bank and Upbit Global Partner on Crypto Compliance Tech

The collaboration leverages Upbit Global’s existing VerifyVASP technology, which automates compliance data transmission, and pairs it with Hana Bank’s established expertise in foreign exchange and settlement systems. The primary objective is to bridge the operational gap between traditional banking networks and virtual asset service providers in South Korea and abroad. By formalizing this technical cooperation, the two entities aim to streamline the secure exchange of transaction data required by law while ensuring personal information remains protected.

This initiative marks another expansion of Hana Bank’s growing digital asset portfolio. The institution has already secured a 6.55% stake in Dunamu, the parent company of Upbit, and maintains a 25% ownership in BitGo Korea, a custody service provider. Beyond infrastructure, the bank is actively involved in proof-of-concept projects for won-backed stablecoins and tokenized assets. As South Korea prepares to integrate tokenized securities into its formal capital markets framework by February 2027, Hana Bank’s latest agreement serves as a blueprint for aligning traditional banking operations with the stringent anti-money laundering requirements now governing the crypto sector.