Hanwha Life Acquires 75% Stake in U.S. Securities Firm Velocity Clearing

Hanwha Life Insurance, South Korea's first life insurer, has finalized its acquisition of a 75% stake in Velocity Clearing, LLC, a New York-based financial services firm. The deal, completed on July 30, marks Hanwha's strategic expansion into North American capital markets beyond its traditional insurance business.

Velocity Clearing specializes in post-trade services, including clearing and settlement, with $1.2 billion in assets and a 25% revenue CAGR from 2022-2024. The acquisition provides Hanwha with a foothold in U.S. securities and access to global financial products for its clients.

Hanwha plans to maintain Velocity's existing leadership while integrating operations with its U.S. asset management affiliate. The move reflects growing institutional interest in diversified financial platforms, though no direct cryptocurrency involvement was disclosed in the transaction.