Upbit operator Dunamu lands Hana Bank as fourth-largest shareholder in $670 million deal
Hana Bank has acquired a 6.55% stake in Dunamu, the operator of Upbit, in a $670 million investment deal to foster digital asset innovation.Summary
Hana Financial Group's Hana Bank has purchased a 6.55% stake in Dunamu, the parent company of the South Korean crypto exchange Upbit, for approximately $670 million. By acquiring shares from Kakao Investment, Hana Bank becomes Dunamu’s fourth-largest shareholder, with the two entities planning to collaborate on infrastructure for a won-denominated stablecoin ecosystem. This deal underscores a broader trend of South Korean financial institutions increasingly engaging with the digital asset sector. The investment reflects a significant shift in South Korea’s regulatory environment, which has recently eased restrictions on corporate cryptocurrency ownership and shifted from a restrictive stance to a more accommodative approach toward digital asset integration within the national financial system.
(Source：Crypto Briefing)