Shinhan Financial Group said on Saturday it met Citigroup executives, including Citigroup Global Chair of Corporate Banking Jason Rekate (제이슨 리케이트), at its headquarters in Jung-gu, Seoul on Jan. 29 to discuss expanding its global business and cooperation in future finance, including digital assets.

The meeting discussed practical cooperation measures to secure stable funding for overseas business expansion based on the two companies' global networks and to create synergies in the digital asset sector.

The two sides agreed to further strengthen their global partnership by upgrading their foreign-currency liquidity management framework and focusing on investment banking areas in which they can jointly participate in the future, including acquisition finance and project financing in major financial markets such as the United States, Europe and Asia.

Shinhan Financial also continued discussions with Citigroup on the current status of key businesses based on digital assets such as deposit tokens and on strategies to build infrastructure for cross-border currency payments, as it seeks to respond to rapid changes in the financial environment including digital and AX.

Chairman Jin Ok-dong (진옥동) said Shinhan Financial's solid partnership with Citigroup over more than 20 years is a key asset in helping the group secure differentiated competitiveness in global markets beyond South Korea. He said he hoped the meeting would further strengthen cooperation between the two companies and lead to opportunities for joint growth in global markets.