Hana Financial Group, one of South Korea's largest financial institutions, has entered into a partnership with POSCO International and Dunamu to develop a blockchain-based remittance system.
The new system, powered by Dunamu's GIWA Chain, will allow for real-time processing of cross-border fund flows, reducing both settlement time and transaction costs compared to traditional methods.
POSCO International will apply the system to real commercial transactions, while Hana Financial Group will oversee remittance processing, foreign exchange, and settlement operations. Dunamu will provide the blockchain infrastructure and maintain transaction records.