Hana Bank is acquiring a $669 million stake in Dunamu, the company behind South Korea’s leading Upbit crypto exchange. The investment gives Hana a 6.55% ownership share, signaling growing institutional confidence in the digital asset sector. Analysts believe the move could strengthen long-term sentiment around Upbit as South Korea develops new crypto regulations.
South Korean banking giant Hana Bank is making a major move into cryptocurrency. It revealed it will spend approximately $669 million to acquire a 6.55% stake in Dunamu, the operator of the Upbit exchange.
Upon completion on June 15, Hana will become Dunamu’s fourth-largest shareholder. The bank stated the investment will help it “secure competitiveness in the new financial landscape.”
Upbit is South Korea’s dominant trading platform, controlling over 80% of the country’s crypto volume. It is also ranked among the world’s top spot exchanges, regularly processing over $1 billion in daily trades.
The deal highlights a strategic pivot by traditional finance into digital assets. Hana has previously expanded its crypto exposure through partnerships with Circle, Crypto.com, and Standard Chartered Group.
This investment arrives as South Korea finalizes its Digital Asset Basic Act, a new regulatory framework for the industry. Meanwhile, Dunamu is also working on a merger and acquisition process with Naver Financial.
Analysts view the bank’s substantial bet as a strong signal for the Upbit crypto exchange. It indicates rising institutional trust could push the exchange into a stronger position within Asia’s digital asset market.
