Danal and HancomWITH to Launch Stablecoin-Based Electronic Finance Business

Jin Changyong, Head of Business Division at Danal (inside left), and Song Sangyeop, CEO of HancomWITH (inside right).

Danal, a company specializing in integrated payment business, and HancomWITH, a subsidiary of Hancom Group, announced on July 30 that they will officially launch an electronic finance business based on stablecoins.

The two companies have formed a partnership and plan to introduce a kiosk-based stablecoin financial service targeting foreigners residing in Korea to the domestic market. In addition, they have announced plans to launch financial services for overseas markets that incorporate both companies' AI and security technologies.

Danal has already secured the necessary infrastructure for the service launch at the group level. To promote the activation of its 'prepaid card specialized for foreigners,' which is currently under development, Danal has established a kiosk partnership infrastructure in major commercial districts and educational facilities such as universities in Korea. Its affiliate, Danal Fintech, plans to release the NC Wallet, a non-custodial wallet equipped with stablecoin payment and global merchant integration features, by August.

Furthermore, HancomWITH's next-generation authentication/security, quantum security, blockchain, cryptographic module, and AI-based facial authentication technologies are expected to enhance the competitiveness of the new financial services. In particular, the adoption of quantum-resistant encryption technology and AI-based facial recognition solutions is expected to further increase the completeness of the new services.

The two companies have already formed a joint consultative body centered on working-level staff to accelerate business promotion, and are simultaneously pursuing multifaceted business expansion, including joint marketing and partner company collaboration in both domestic and international markets.

Jin Changyong, Head of Business Division at Danal, stated, "We will focus on quickly launching stablecoin-based electronic financial services and providing differentiated financial services that combine security and AI technologies in various aspects of daily life," adding, "In particular, the kiosk financial service for foreigners residing in Korea is expected to be rapidly activated in response to market needs."

Song Sangyeop, CEO of HancomWITH, said, "We are excited to be able to pursue more diverse business models for the real-asset-based digital financial services we have been preparing, through our collaboration with Danal, a leading company in virtual asset payments," and added, "Going forward, by combining the expertise of both companies, we will introduce digital financial services optimized for the changing digital currency market."