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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Hana Financial Group has made a strategic equity investment of approximately KRW 1 trillion in Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, signaling a deeper push into digital assets and fintech collaboration.
According to regulatory filings on May 15, the board of Hana Bank approved the acquisition of 2.284 million shares in Dunamu from Kakao Investment for about KRW 1.003 trillion. The transaction gives Hana Bank a 6.55% stake, making it the fourth-largest shareholder.
Hana Financial said the investment is aimed at securing future growth engines, with plans to collaborate with Dunamu on blockchain-based overseas remittance services, a Korean won stablecoin ecosystem, and digital asset-linked wealth management solutions.
Market attention is also focused on the potential expansion of business ties between Hana Bank and Upbit beyond a financial investment. Upbit currently maintains an exclusive real-name account partnership with K Bank for Korean won deposits and withdrawals.
Industry observers note that if Hana Bank moves to establish a similar partnership with Upbit, it could intensify competition and potentially lead to a shift in customer deposits away from K Bank.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
