South Korean banking giant Hana Bank has announced a landmark 1.003 trillion won ($669.2 million) investment to acquire a 6.55% stake in Dunamu, the operator of the nation’s dominant cryptocurrency exchange, Upbit. According to a regulatory filing on May 14, 2026, the bank will purchase 2.28 million shares from Kakao Investments, positioning itself as the fourth-largest shareholder in the fintech titan.
The transaction, scheduled for completion on June 15, represents the largest-ever investment by a traditional Korean financial institution into a digital asset enterprise. Hana Bank is utilizing roughly 2.78% of its own equity for the cash deal, signaling a major strategic pivot. The bank noted that the move is intended to secure competitiveness in the new financial landscape as the lines between traditional banking and digital assets continue to blur.
This acquisition comes at a transformative moment for Dunamu. The company is currently finalizing a merger with Naver Financial, the financial arm of IT giant Naver, which will further consolidate Upbit’s market dominance. Upbit currently commands over 80% of the South Korean trading volume and consistently ranks among the top global exchanges.
Hana Bank’s aggressive entry into the crypto sector follows its recent partnerships with BitGo, Circle, and Crypto.com. This wave of institutional capital arrives just as South Korean regulators finalize the Digital Asset Basic Act, a comprehensive framework designed to bring long-term stability and clear guidelines to the local digital asset market.
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