StoneX Payments and Hana Bank Deepen Partnership to Strengthen Cross-Border Payment Capabilities

Core Insights - StoneX Group Inc. has expanded its strategic partnership with Hana Bank by establishing a correspondent banking relationship through its subsidiary, StoneX Financial Ltd, in London [1][2] Group 1: Partnership Details - The partnership allows Hana Bank to utilize StoneX Payments' cross-border FX payment platform, enhancing access to local currency payments in regions such as Latin America, the Middle East, and Asia [2] - This collaboration aims to improve services for Hana Bank's international corporate clients, facilitating better transaction capabilities [2][3] Group 2: Operational Enhancements - Integrating Hana Bank into StoneX Financial's global network will enhance the settlement of Korean won (KRW) transactions, addressing the increasing demand for KRW flows into Korea [3] - The partnership is expected to unlock new business opportunities for companies related to Korea by leveraging both organizations' capabilities [5] Group 3: Strategic Goals - The partnership aligns with the Korean government's initiative to open up the FX market, which includes extended operation hours for KRW transactions [4] - StoneX Payments is focused on expanding its presence in Asia, and this partnership with Hana Bank is a key step in providing broader access to emerging-market currencies [4]