South Korean banking group Hana Financial is expanding its presence in the digital asset sector through a major investment in Dunamu, the operator of crypto exchange Upbit, in a transaction valued at roughly 1.003 trillion won ($668 million).
Under the agreement, Hana Bank will acquire approximately 2.28 million Dunamu shares from Kakao Investment, giving the bank a 6.55% stake in the company after the deal closes in June. The purchase will make Hana Bank the fourth-largest shareholder in Dunamu, one of South Korea’s most influential crypto firms.
The acquisition reflects a broader shift in South Korea’s financial industry as banks and large corporations position themselves for a more regulated digital asset market. Policymakers are currently advancing the Digital Asset Basic Act, legislation expected to establish rules for stablecoins, exchanges, and institutional participation in crypto-related businesses.
Partnership focuses on blockchain payments and remittance systems
Hana and Dunamu have already collaborated on several blockchain-based financial projects prior to the investment announcement. Earlier this year, the companies tested overseas remittance infrastructure using Dunamu’s Giwa Chain network to improve the speed and efficiency of cross-border transfers.
The firms also completed a proof-of-concept project replicating certain functions of the SWIFT international payment system, a move aimed at exploring blockchain-based alternatives for traditional settlement networks.
In April, the partnership expanded further through a commercial pilot agreement with POSCO International. The initiative focuses on blockchain-powered trade settlements and foreign exchange processing, areas where financial institutions are increasingly exploring distributed ledger technology to reduce delays and operational costs.
Industry analysts say Hana’s investment is less about short-term crypto trading exposure and more about securing a role in future digital payment infrastructure and stablecoin-related financial services.
Regulatory changes encourage institutional crypto expansion
South Korea’s regulatory environment has gradually become more favorable toward institutional participation in digital assets after years of tighter restrictions following earlier crypto market scandals.
Regulators have recently eased some limits on corporate exposure to digital assets, while lawmakers continue discussions around stablecoin regulation and investor protection frameworks. The changing policy direction, along with growing attention on the Bank of Korea crypto market strategy, has intensified competition among banks, fintech firms, and technology companies seeking to establish early positions in blockchain finance.
Dunamu remains the dominant player in South Korea’s crypto market through Upbit, which consistently accounts for more than 80% of domestic crypto trading volume. The exchange also ranks among the world’s largest spot trading platforms by daily activity.
Kakao Investment will retain a smaller stake in Dunamu following the sale, according to a separate regulatory filing, while Hana’s entry into the company marks one of the largest direct investments by a South Korean bank into a crypto-related business.
FAQs
1. Why is Hana Bank investing in Dunamu?
Hana Bank is seeking to expand its role in blockchain finance, digital payments, and regulated digital asset infrastructure as South Korea develops clearer crypto regulations.
2. How much stake will Hana Bank own in Dunamu?
The bank will own approximately 6.55% of Dunamu after acquiring around 2.28 million shares from Kakao Investment.
3. What is Dunamu best known for?
Dunamu operates Upbit, South Korea’s largest cryptocurrency exchange by trading volume.
4. How does this deal affect South Korea’s crypto industry?
The investment highlights increasing participation from traditional financial institutions as the country moves toward regulated digital asset and stablecoin markets.
