Hana Financial Group is stepping up its push into stablecoin payments in South Korea, launching a promotional campaign for foreign visitors using USDC through partnerships with Circle and Crypto.com.
The group said Thursday that its card unit, Hana Card, will offer 5 percent cashback in CRO, a token issued by Crypto.com, to foreign users who pay at Korean merchants using Crypto.com’s prepaid Visa card funded with USDC.
The promotion follows a partnership signed in December between Hana Card and Circle, the issuer of USDC — the world’s second-largest stablecoin by circulation — to expand USDC-based payments in Korea.
“This project aims to verify the practical use of stablecoin-based payments and broaden cooperation with global digital asset firms,” a Hana Financial official said.
The collaboration builds on an earlier partnership between the two companies. In May last year, Hana Bank signed a broader business agreement with Circle to explore stablecoin-related services.
Hana Card holds a strong position in payments by foreign visitors in Korea, accounting for roughly half of the foreign-issued card acquiring market, according to the company. The partnership could give Hana an early foothold in stablecoin payments as Korea prepares to establish a legal framework for the sector.
The initiative is part of Hana Financial’s broader push into digital assets as a future growth engine. In his New Year message, Chairman Ham Young-joo pledged to position the group at the forefront of the emerging stablecoin ecosystem, and Hana has since formed a digital asset task force across its affiliates.
The group is expanding cooperation with global crypto firms, including plans to seek a digital asset custody license for BitGo Korea, its joint venture with BitGo, a global digital asset custodian listed on the New York Stock Exchange.
jwc@heraldcorp.com
