“Pay with multiple coins, settle in real time” ... Hana Financial Group and Dunamu Inc. conduct technology testing

[Financial News] Hana Financial Group is accelerating efforts to build a stablecoin ecosystem in partnership with Dunamu Inc. The plan is to test card payments linked to Upbit wallets and real-time settlement for merchants, and put them to use in everyday life as soon as the relevant framework is established. 
According to financial industry sources on the 23rd, Hana Financial Group and Dunamu Inc. are jointly conducting a proof of concept (PoC) to build a payments and settlement ecosystem based on Upbit, the country’s largest digital asset platform. Hana Card is participating in the test. 
The two companies are testing a process that integrates Upbit and GIWA Wallet, enabling customers to make real-time payments with the stablecoins they hold and merchants to receive settlement. The focus is on making the service convenient for customers accustomed to existing payment services while increasing the speed at which merchants can turn over funds.  
The main focus of the testing is real-time settlement for merchants using blockchain. Blockchain will shorten settlement cycles—which take several days on existing credit card networks—to “real time.” The aim is to improve small businesses’ cash flow and the efficiency of their fund management.
The technology test will also examine “multi-stablecoin deductions,” in which multiple stablecoins are used together for a single payment. For example, when traveling abroad, a customer could use a card linked to an Upbit wallet to pay first with Tether US Dollar (USDT) and USD Coin (USDC), with the card set to charge another stablecoin, such as JPYC, if the balance is insufficient. 
Hana Financial plans to use the results of this test to build standard infrastructure for stablecoin payments. Its strategy is to expand the payments ecosystem by broadening participation to include domestic and overseas fintech companies and retailers.
A Hana Financial Group official said, “Through our collaboration with Dunamu Inc., we have implemented a next-generation payment and settlement process that the public can experience and use in practice. By integrating the Upbit exchange wallet, already familiar and widely adopted in the existing payments market, we plan to set a standard for Korea’s digital asset payments market and foster a payments ecosystem with active interaction.” 
Hana Card and Dunamu Inc. will also develop a benefits program for high-net-worth individuals alongside the technology testing, drawing on Hana Financial Group’s comprehensive wealth management capabilities, including Club1 and Gold Club. Starting in January next year, Hana Card plans to strengthen and offer a differentiated lineup of exclusive services for Dunamu VIP clients, including tailored premium financial services and VIP-only partner benefits. 
Meanwhile, Hana Financial Group is also expanding its reach in the global digital ecosystem, jointly exploring business opportunities in areas such as stablecoins and cross-border payments and remittances with Abu Dhabi Global Market (ADGM) and Hanwha Asset Management Co., Ltd. 

[email protected] Lee Hyun-jung Reporter