Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingHana Bank and Upbit are deepening cooperation globally to jointly build a "travel rules" infrastructure
The partnership between Hana Bank and Upbit's parent company group has been in the works for several months. In March this year, Hana Financial Group signed a digital asset cooperation agreement with Standard Chartered Bank. In May, its board of directors approved the acquisition of a 6.55% stake in Upbit operator Dunamu for 1.003 trillion won, making Asiana Bank its fourth largest shareholder. Subsequently, on September 22, Asiana Securities signed a memorandum of understanding (MOU) with Singapore-based Upbit Global to jointly develop product and asset management businesses.
The memorandum of understanding was signed at Asiana Bank's headquarters in Seoul, focusing on "Travel Rules". The rule requires cryptocurrency platforms to share information about the sender and recipient when the transfer amount reaches a certain threshold. Under the agreement, Asiana Bank and Upbit Global will jointly develop the technology and infrastructure needed to support such transfers. The two sides will also closely monitor changes in regulatory policies and test systems to help the two companies meet future compliance requirements.
Specific requirements for "Travel Rules"
"Travel Rules" originated from the Financial Action Task Force (FATF), which established global anti-money laundering standards. It requires cryptocurrency companies to collect and share sender and recipient information when the transfer amount exceeds a set limit, which is similar to the wire transfer rules followed by banks.
South Korea adopted this rule earlier and set the threshold at 1 million won. Major domestic exchanges have adopted different systems to meet this requirement: Upbit's operator Dunamu developed its own system VerifyVASP, while Bithumb, Coinone and Korbit jointly created the CODE system. This means that transfers between platforms using different systems require middleware support that can connect the two sets of technologies.
This is particularly important for Upbit Global, which handles cross-border transfers. Cross-border transactions involve data formats and legal requirements in different countries. The Asiana Bank and Upbit Global project aims to build infrastructure that can handle these differences.
South Korean banks compete to complete compliance before legislation
South Korea's Financial Services Commission (FSC) is improving the Basic Law on Digital Assets, which will establish formal licensing, reserve and anti-money laundering rules for stablecoin issuers and exchanges across the country. The government's current goal is to pass the bill by the end of 2026. Once the bill is passed, banks and exchanges can no longer act based on plans alone, but must have compliance systems in place and running.
As South Korea's largest bank, KB Minmin Bank submitted 17 Trademark Registering applications within a week, including names such as "KBKRW" and "KRWST." This straightforward approach aims to occupy the stablecoin brand before the law exists, so that services can be launched under their own name immediately after the bill is passed.
友利金融集团（Woori Financial Group）则采取了另一条路径，扩大了与三星电子的现有合作伙伴关系，成为Samsung Wallet Money的独家运营商。其策略在于，拥有分发渠道——即预装在数百万台Galaxy手机上的钱包——比拥有代币本身更为重要。
农协银行（NongHyup）选择了谨慎路线，但仍被监管机构盯上。金融服务委员会对其在与交易所合作中如何处理反匿名规则进行了检查。这提醒人们，即使银行试图合规，一旦监管机构开始审查，仍可能因疏漏而面临风险。
与其他银行联合资源构建共享稳定币不同，韩亚银行直接收购了Dunamu的股份，随后又签署了韩亚证券的谅解备忘录，如今又达成了这项关于旅行规则基础设施的协议。其他银行正致力于在法律通过之日即可推出稳定币；而韩亚银行则在争夺掌控资金流经韩国最大交易所的“管道”。无论最终哪种稳定币胜出，这一押注都可能获得回报。
