Hanwha Asset Management Pursues Digital-Asset Partnerships with Ripple and Canary Capital
Hanwha Asset Management is expanding its digital-asset business by exploring partnerships with Ripple and Canary Capital. The South Korean asset manager aims to create synergies between Hanwha's capabilities in designing financial products and Ripple's blockchain infrastructure, which would enable the creation of cryptocurrency exchange-traded funds (ETFs) and real-world assets.
Hanwha Investment & Securities has already acquired a significant stake in Dunamu, a major player in South Korea's digital-asset market. The additional purchase raised Hanwha's stake to 9.84% from 5.94%, demonstrating the company's commitment to its digital-asset business.
Ripple's experience with blockchain and payments technology could complement Hanwha's expertise in financial product design, potentially leading to innovative investment opportunities for clients. Canary Capital brings expertise in operating crypto ETFs in the US, which would further enhance the potential cooperation between the parties.