Hana Financial Invests $669 Million in Crypto Exchange Operator Dunamu

Hana Financial Group has made a significant move into the cryptocurrency market by acquiring a stake in Dunamu, the parent company of Upbit, South Korea's largest crypto exchange. The acquisition, valued at $669 million, marks the largest investment by a bank into a virtual asset operator in South Korean history.

The deal sees Hana Financial Group take over a 6.55% stake in Dunamu from Kakao Investment, making it the fourth-largest shareholder. This move is expected to lead to business cooperation between the two companies, including digital financial services such as stablecoin projects.