Hana Bank and Upbit Global signed a memorandum of understanding on September 22 to collaborate on Travel Rule-based digital asset transfer infrastructure.

The collaboration focuses on verifying sender and recipient information, secure data transmission, and potential integration between financial institutions and VASP partners domestically and abroad.

The partnership aims to respond to evolving laws, research and test safe transfer technology, and explore infrastructure that links domestic and international virtual asset service providers with information exchanges for compliance.

The Travel Rule requires service providers to collect and securely transmit sender and recipient information during virtual asset transfers to support regulatory compliance.

Hana Bank plans to leverage its foreign exchange, payment, settlement, and broader financial infrastructure to identify new digital asset financial services.

A Hana Bank official described the agreement as a meaningful new cooperation model between traditional banks and the virtual asset industry under regulatory standards such as anti-money laundering.

Upbit Global operates VerifyVASP, a Travel Rule solution that verifies sender and recipient information and protects personal data during transfers.