Hana Network was established in December 2022 by a team based in Japan. It constructs novel interfaces, such as trading and streaming platforms, to onboard users into the cryptocurrency space. The project aims to offer hyper-casual entry points for retail participants in Asia, Africa, and other areas, while also catering to large-scale traders.

In 2023, the network joined the Binance Labs incubation program and secured $9M in total funding. The developers are adopting a phased strategy for releasing applications, progressively introducing Hanafuda (a casual card game), Capsule Shot (NFTs), and Dipsy (streaming).