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Hana Bank to Acquire Stake in Dunamu for $700 Mln, Filing Says
Kakao Investment is selling the stake to fund future investments as Hana Bank expands into digital assets and becomes Dunamu’s fourth-largest shareholder.
- On Friday, Hana Financial Group Inc. announced Hana Bank will acquire a 6.55% stake in Dunamu Inc., operator of South Korea's largest crypto exchange Upbit, for 1 trillion won .
- Hana Bank intends to "secure competitiveness in new finance," while Kakao Investment aims at "securing funds for future investments" by offloading the shares.
- This transaction represents the largest-ever bank investment into a virtual asset operator, occurring as financial regulators pressure local crypto firms to reduce major shareholders' stakes to ensure business responsibility.
- Kakao's stake in Dunamu will decrease to 4.03% from 10.58%, as the exchange prepares for a landmark merger with Naver that values the combined entity at $13.6 billion.
- Dunamu holds a domestic market share above 80% of virtual asset trading volume, positioning it as a dominant force alongside its integration with Naver's payment arm to create a fintech juggernaut.
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Hana Buys $670 Million Stake in Crypto Exchange Operator Dunamu
Hana Bank, one of South Korea’s largest commercial lenders, has acquired a 1 trillion won ($670 million) stake in crypto exchange operator Dunamu, in the latest sign that the country’s banks are ready to embrace digital assets.
·United States
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Hana Financial Group Acquires 1 Trillion Won Stake in Dunamu, Accelerating Alliances in Virtual Assets; Becomes 4th Largest Shareholder with 6.55% Stake. Hana Financial Group has decided to acquire approximately 1 trillion won worth of shares in Dunamu, a virtual asset exchange. Predictions are emerging that this move increases the likelihood of alliances and collaborations between the traditional financial sector and the virtual asset industry.
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Total News Sources19
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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