Hana Financial Group, Dunamu, and POSCO International Officially Launch Blockchain-Based Real-Time Overseas Remittance System 'GIWA Chain'

On April 29, 2026, Hana Financial Group, POSCO International, and Dunamu, the operator of Upbit, collaborated to deploy a blockchain-based overseas remittance system for actual trade transactions. They aim to solve the chronic issues of slow settlement speeds and high fees in existing financial networks by utilizing Dunamu's proprietary Layer 2 solution, 'GIWA Chain.'

This system launch is significant as it goes beyond simple technical verification to apply blockchain to actual B2B trade payments. The participating companies plan to accelerate financial innovation by implementing direct fund transfers, bypassing complex intermediary bank processes through GIWA Chain.

On the morning of April 29, 2026, Hana Financial Group Vice Chairman Lee Eun-hyung, POSCO International President Lee Kye-in, and Dunamu CEO Oh Kyung-seok signed a tripartite Memorandum of Understanding (MOU) in Seoul and launched the real-time overseas remittance service via GIWA Chain. This collaboration is evaluated as an unusual case combining a major domestic financial holding company, a global trading firm, and a virtual asset exchange operator.

GIWA Chain will serve as an important milestone that overcomes the limitations of existing financial systems and proves the commercial viability of on-chain finance.

GIWA Chain is designed based on Layer 2 blockchain technology developed by Dunamu, drastically increasing transaction processing speeds per second. Unlike existing legacy systems that go through multiple verification steps for overseas remittances, this infrastructure supports real-time settlement functions optimized for corporate trade payments.

Strategic Synergy: Combining Finance, Trade, and Technology

In this project, each company creates synergy based on its unique capabilities. Hana Financial is responsible for the financial gateway role and regulatory compliance, POSCO International provides large-scale B2B transaction cases, and Dunamu supplies the core blockchain technology infrastructure.

• Hana Financial Group: Providing financial gateways and responding to domestic and international financial regulations.
• POSCO International: Providing large-scale business-to-business (B2B) trade data and real-world use cases.
• Dunamu: Building the Layer 2 blockchain 'GIWA Chain' and providing technical maintenance.

The greatest strength of GIWA Chain is its overwhelming cost efficiency compared to the existing SWIFT network. While remittances through traditional banking networks usually take 3 to 5 days and incur fees of 3-5%, GIWA Chain aims to reduce this to less than 1%.

This official launch is based on the successful results of a blockchain foreign currency remittance test conducted by Hana Financial on February 27, 2026. After confirming technical stability through the successful test at that time, the partners expanded the system to a real transaction environment through a formal agreement at the end of April.

Potential for Expansion into a Financial Hub

Experts predict that the emergence of GIWA Chain will have a significant impact on domestic and international financial markets. In particular, they are noting the potential for GIWA Chain to evolve beyond a simple remittance tool into a broad 'on-chain financial hub' involving various financial institutions and companies.

As global trading companies like POSCO International fully adopt blockchain payments, participation from other large corporations is expected to accelerate. This could serve as an opportunity for South Korea to take the lead in the global on-chain financial market.

In conclusion, this alliance between Hana Financial, Dunamu, and POSCO is an example of traditional finance and innovative technology combining to create substantial economic value. Attention is focused on whether GIWA Chain can establish itself as a new standard in the global remittance market.