South Korea’s Hana Financial Group, POSCO International, and Dunamu have moved beyond experimentation, signing a trilateral agreement to roll out a blockchain-powered remittance system for real-world trade.
From pilot to live transactions
Announced on Wednesday, the deal marks a transition from proof-of-concept testing to live deployment, with POSCO International set to begin processing actual cross-border payments using the platform. The agreement was signed on Tuesday at Hana Financial Group’s headquarters in Seoul, following a successful pilot conducted earlier this year by Hana and Dunamu.
Hana Financial Group, POSCO International, and Dunamu have signed a trilateral agreement to deploy a blockchain-based remittance system. Real trade transactions are set to begin through POSCO International, marking a significant step in blockchain’s practical application in the…
— Ben Ruggles (@BenRustC) April 29, 2026
According to the companies, results from the pilot phase showed that blockchain infrastructure can significantly cut both settlement time and transaction costs. Unlike the traditional SWIFT system, where payment instructions and fund transfers are handled in separate steps, the new framework merges both processes into a single, streamlined flow. This allows remittances to be executed in near real time, a shift that could improve liquidity and efficiency for global trade operations.
GIWA chain powers real-time settlement
At the core of the system is Dunamu’s proprietary GIWA Chain, which will serve as the infrastructure layer for recording and validating transactions. Under the agreement, POSCO International’s trading division will apply the system to live commercial deals, while Hana Financial Group will manage foreign exchange, settlement, and remittance processing.
POSCO International President Lee Gye-in said the partnership establishes a long-term foundation for collaboration across digital finance and asset ecosystems. The companies aim to refine a scalable model for real-time blockchain remittances before the end of the year, using insights gathered from ongoing live transactions.
The initiative aligns with POSCO International’s broader expansion into blockchain finance, following its recent issuance of $95 million in digital bonds with HSBC and earlier payment trials with JPMorgan.
Meanwhile, Dunamu’s involvement comes amid regulatory scrutiny in South Korea, particularly around its planned stock swap with Naver Financial. Ongoing reviews and proposed digital asset regulations could shape the structure of such deals, though the company has indicated it will continue advancing its strategic plans.
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