S.Korea's Mirae Asset, Hana Financial Group form security token tie-up

South Korea's Mirae Asset Securities on Thursday said it signed an agreement with Hana Financial Group on the security token consortium Next Finance Initiative (NFI) to lead the formation of an ecosystem in the up-and-coming sector.

The NFI comprises companies seeking financial innovation and expansion of Web3 operations starting with security tokens, with SK Telecom Co. joining in March.

With the group's entry into the consortium, Mirae Asset said it will cooperate with Hana Bank and Hana Securities in security tokens and innovate the financial paradigm.

With Hana Bank, the brokerage will seek to commercialize blockchain-based services, and with Hana Securities, it will cooperate in directly promoting the sector.

Mirae Asset said cooperation with the group is expected to create synergy effects in the formation of security token infrastructure as well as business.

Both sides will cooperate to issue quality security tokens, find innovative services, and prepare and set up an investor protection system to expand their business scope to the global stage.

"With Hana Financial Group joining the NFI, I believe that Mirae Asset is a step closer to innovation of the financial industry, something it has long dreamed of," Mirae Asset Chairman and CEO Choi Hyun-man said. "We are committed to launching innovative financial services starting with security tokens."

"We will provide innovative products and services to customers through solid partnerships on the burgeoning security token market, and with customer value as our top priority, we will continue striving to connect digital finance of the present and future," Hana Financial Group CEO Ham Young-joo added.

Write to Bo-Hyung Kim at kph21c@hankyung.com