Hana Bank is acquiring a $670 million [1] stake in Dunamu, the operator of the cryptocurrency exchange Upbit.
The move represents the largest single investment by a South Korean bank in digital-asset companies [3]. By integrating with a major exchange operator, Hana Bank gains direct exposure to the volatile but high-growth digital-asset sector while diversifying its traditional financial portfolio.
The acquisition involves the purchase of 2.28 million shares [1]. This transaction grants Hana Bank a 6.55% ownership stake [4] in the company. Following the completion of the deal, the bank will become the fourth-largest shareholder [4] of Dunamu.
Reports said the stake was sold by Kakao [2]. The deal marks a significant shift in the South Korean financial landscape as traditional banking institutions move from cautious observation to direct equity ownership in the crypto ecosystem.
Dunamu continues to operate Upbit, one of the most influential trading platforms in Asia. The investment underscores a growing trend of institutional adoption within the region, a move that may signal a broader acceptance of digital assets by the South Korean regulatory and banking establishment.
“The move represents the largest single investment by a South Korean bank in digital-asset companies.”
This investment signals a strategic pivot for South Korean traditional finance, transitioning from providing custodial services to taking direct equity risks in crypto infrastructure. By becoming a top shareholder in Dunamu, Hana Bank is positioning itself to influence and benefit from the institutionalization of digital assets in one of the world's most active retail trading markets.
