Hanwha Asset Management Signs MOU to Foster a Healthy Digital Asset Investment Culture

[Asia Economy Reporter Eunmo Koo] Hanwha Asset Management has signed a memorandum of understanding (MOU) with digital asset disclosure platform Crossangle to foster a sound investment culture in digital assets, provide transparent information services, and jointly develop products.

Hanwha Asset Management stated on the 8th, "Through this agreement, the two companies plan to cooperate in creating a sound investment culture rather than reckless speculation and providing investors with trustworthy information."

Hanwha Asset Management established the industry's first digital asset team this year and is exploring how to integrate digital assets and blockchain technology, which are emerging as new alternative investment destinations, into the traditional asset management business.

Choi Young-jin, Head of Digital Strategy at Hanwha Asset Management, said, "In addition to collaborating with external robo-advisors, we are developing our own robo-advisor to strengthen competitiveness in tech solution business." He added, "We are also leading the activation of the financial sector's digital New Deal by utilizing cloud, blockchain, and big data through collaboration with Koscom. This MOU will allow us to differentiate ourselves in providing transparent global financial services."

To become a global asset management company based on digital technology, Hanwha Asset Management expanded its capital to 510 billion KRW earlier this year by participating in a paid-in capital increase of Hanwha Life Insurance. In a fiercely competitive environment where not only blockchain companies but also big tech and financial companies are vying to dominate the global digital asset ecosystem, Hanwha plans to invest in future technology companies related to digital assets. Recently, it has accelerated its digital-related business, preparing new growth engines by discovering and investing in domestic and international fintech startups, including strategic investment in Dumulmeori.

Choi said, "The current problems in the digital asset market are the collapse of trust and opaque investment information. We expect that financial companies that can provide trust will participate in the market, lead investor protection, and communicate with authorities to improve these issues." He added, "Hanwha Asset Management, which seeks various investment solutions to help clients with asset allocation and return enhancement, and Crossangle, which leads transparent investment information provision, will cooperate to ensure the digital asset market progresses correctly."

Kim Jun-woo, CEO of Crossangle, said, "Following the cryptocurrency frenzy of 2017-18, digital assets have rapidly grown due to ongoing interest in fintech and blockchain, research on digital central bank currencies worldwide, and the entry and expansion of traditional financial giants' services into virtual assets such as Bitcoin." He expressed his ambition, saying, "To resolve side effects revealed during this process and establish a more mature industry, we will start a transparent, information-based, popularized service with Hanwha Asset Management to foster a sound industrial ecosystem."

Crossangle operates Xangle, a virtual asset information disclosure platform, aiming to be a standardized investment information platform in the global virtual market. It also provides various services such as on-chain data analysis, market intelligence reports, asset credit rating, reference prices, and market indicators. The company is co-managed by CEO Kim Jun-woo, former head of venture capital at NXC, Nexon's parent company, and CEO Lee Hyun-woo, former co-founder of Open Survey who has long invested time in blockchain data analysis. Last year, Crossangle secured a 4 billion KRW investment from Hanwha Investment & Securities.

This content was produced with the assistance of AI translation services.