Hana Financial Group will buy a 6.55% stake in Dunamu, the operator of Upbit, from Kakao Investment for about $670 million. The deal will make Hana Bank Dunamu’s fourth-largest shareholder and support joint work on blockchain remittances, won-backed stablecoins, and digital asset wealth services in South Korea.
Hana Financial Group has moved deeper into South Korea’s digital asset sector through a large stake purchase in Dunamu, the operator of Upbit. The deal gives the banking group a stronger position in blockchain payments, remittances, stablecoin services, and digital wealth products.
The transaction comes as South Korea’s financial sector prepares for wider use of regulated digital assets. Banks and fintech firms are also seeking stronger roles in blockchain-based finance as local rules continue to shift.
Hana Bank Buys 6.55% Dunamu Stake
Hana Financial Group said Hana Bank will acquire 2.284 million Dunamu shares from Kakao Investment. The deal is worth about 1.0033 trillion won, or nearly $670 million. The purchase represents a 6.55% stake in Dunamu.
Once completed, Hana Bank will become Dunamu’s fourth-largest shareholder. Kakao Investment will reduce its holding through the sale, while Hana will gain direct exposure to the company behind South Korea’s largest crypto exchange.
Dunamu operates Upbit, which remains the leading crypto exchange in South Korea. The platform controls most local trading activity and has become a major part of the country’s digital asset market.
Hana Financial said the investment supports its plan to develop new services tied to digital assets. The group wants to connect its banking system with blockchain-based platforms as customer demand shifts toward faster digital payments and asset services.
Giwa Chain Remittance Project Moves Forward
Hana Financial and Dunamu have already started working together on blockchain-based financial services. Their main project uses Giwa Chain, Dunamu’s blockchain network, to test foreign currency remittances.
The companies completed a proof of concept in February. The test copied major parts of the current SWIFT-based foreign remittance system onto Giwa Chain. This allowed the firms to study how blockchain rails could support cross-border transfers.
In April, Hana and Dunamu expanded the project through a three-party agreement with POSCO International. The agreement created a path for commercial testing and real-world verification of the remittance service.
Hana Financial plans to improve the blockchain remittance system further. The group wants to build faster transaction and settlement services for foreign exchange payments. However, the project remains in testing and still needs wider commercial approval before full use.
Won Stablecoin Plans Enter Focus
Hana Financial and Dunamu also plan to work on a won-denominated stablecoin ecosystem. Their cooperation will cover issuance, distribution, payments, use, and circulation within South Korea’s digital economy.
The plan comes as South Korea prepares new rules for stablecoins and other digital asset services. Traditional financial firms are watching the sector closely because stablecoins could become part of payments, transfers, and online financial products.
Hana Financial aims to use its banking network with Dunamu’s blockchain tools. The two companies also plan to explore overseas business, strategic investment, and service links in global digital asset markets.
The firms are also working on digital asset-based wealth management. Hana wants to connect its existing fund, pension, and trust services with Dunamu’s digital asset infrastructure. The service could link Upbit with Hana Financial’s platform.
Chairman Says Deal Targets Financial Innovation
Hana Financial Group Chairman Ham Young-joo described the deal as part of the group’s digital asset strategy. “This equity investment is a strategic decision to accelerate digital asset-based financial innovation,” he said.
He added, “Together with Dunamu, we will lead the creation of a K-blockchain ecosystem and concentrate the group’s capabilities so that Korea’s digital asset industry can leap to a globally leading level.”
The quotes show Hana’s ambition, although the success of the plan will depend on regulation, market demand, and commercial rollout. The deal places Hana among the major financial groups seeking a role in South Korea’s regulated crypto market.
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