Hana Financial Expands Crypto Presence with Dunamu Stake

Hana Financial Group has made a strategic equity investment in Dunamu, the operator of cryptocurrency exchange Upbit. The South Korean financial conglomerate agreed to acquire a 6.55% stake in Dunamu for $668 million. This acquisition makes Hana Financial the fourth-largest shareholder in Dunamu, behind Chairman Song Chi-hyung and Vice Chairman Kim Hyoung-nyon.

The deal is part of Hana Financial's growing interest in digital assets. In April, it signed a trilateral agreement with POSCO International and Dunamu to launch a blockchain-based remittance system. It also reached a collaboration agreement with Standard Chartered Group covering global financial and digital asset markets.

This move follows a broader trend of traditional South Korean financial institutions expanding into the digital assets sector. Mirae Asset Consulting acquired a controlling stake in crypto exchange Korbit in February, and Coinone has been exploring a sale of shares held by its chairman.