Hana Financial, Lambda256 Unveil Blockchain-Driven Remittance System

Hana Financial Group has partnered with Lambda256 to build a blockchain-powered overseas remittance system. The project, which began in earnest in June, aims to modernize cross-border payment processing using distributed ledger technology.

Lambda256, the blockchain technology subsidiary of Dunamu, is serving as the technology provider for Hana Bank's overseas trade remittance operations. The company is developing smart contracts to process and record remittance transactions on GIWA Chain, Dunamu's enterprise blockchain platform.

The successful implementation of this remittance system could pave the way for broader adoption of blockchain in other banking operations, such as trade finance and settlement systems.