London, United Kingdom / Seoul, South Korea [March 12, 2026] – Crown Agents Bank (CAB), a leading B2B FX and payments provider delivering prosperity in the fast‑growth and dynamic markets it serves, has signed a new commercial partnership agreement with Hana Bank, one of South Korea’s most prestigious and respected financial institutions.
This partnership strengthens CAB’s longstanding commitment to building direct, in-market banking relationships that allow clients to benefit from improved access, transparency and efficiency when trading and settling in emerging and developed markets.
Through this agreement, CAB clients will be able to settle directly in Korean Won (KRW), which will eliminate reliance on intermediary currencies such as USD, EUR, or GBP. That direct access will reduce settlement times, mitigate the “multi-hop” challenges that often inflate costs, and provide clients with more competitive FX rates and payment pricing.
The Korean central bank has eased off on some of its regulations in recent years, which has allowed more products and services for customers and clients.
Neeraj Kapur, Group CEO, Crown Agents Bank, said:
“Direct KRW settlement is a significant enhancement for institutions operating in or with exposure to South Korea, and we are proud to bring this capability to our global client base. In a short space of time, it is already becoming effective for our clients.
“This achievement, underpinned by our expanding international presence, not only enables CAB to deliver best-in-class foreign exchange pricing, faster settlement times and greater transparency to clients, but also positions us to connect with new clients and opportunities across our global network.”
Chiwoo Lee, Deputy General Manager, Hana Bank London, said:
“Crown Agents Bank is a globally recognised institution with strong expertise in payments and foreign exchange, and we are pleased to partner with them to deliver more efficient direct KRW settlement for international financial institutions.
“This collaboration combines CAB’s global network capabilities with Hana Bank’s expertise in the Korean Won market, enhancing cross-border efficiency and access to Korea. As global demand for Korean-related assets continues to grow, Hana Bank will further expand international access across a broad range of KRW-denominated products, including FX, equities and fixed income.”
