Hanwha Asset Management Teams with Ripple and Canary Capital for Digital Asset Push
Hanwha Asset Management has formed a strategic partnership with Ripple and Canary Capital to accelerate its digital asset business. The three-way alliance aims to leverage their collective expertise in financial product design, blockchain technology, and international payments infrastructure.
The collaboration will focus on developing digital asset exchange-traded funds (ETFs) and real-world asset (RWA) tokenization. Canary Capital's experience in managing ETFs in the US market will be combined with Ripple's technology support and Hanwha Asset Management's product development capabilities tailored to South Korean regulations.
This partnership is part of Hanwha Financial Group's broader digital asset strategy, which includes launching a digital asset platform (DAP) next year. The group has also invested in web3 wallet platform company Crysus and digital asset data platform Xangle, and holds approximately 9.8% of Dunamu, which operates Upbit, South Korea's largest virtual asset exchange.