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Korean banks race to defend turf ahead of stablecoin rules

Hana Financial Group's recent 1 trillion won ($662 million) bet on Upbit operator Dunamu was not just a crypto investment. It was a wager on whether banks can keep their place at the center of money as finance moves onto digital rails. Korea has yet to finalize who can issue won-backed stablecoins or how exchanges and fintechs can participate. But financial groups are not waiting. They are moving to secure the exchanges, card networks, wallets and remittance channels that could decide whether wo