Hana Bank Buys $670M Stake in Upbit’s Parent Dunamu in Korea’s Largest Bank-Crypto Deal
Hana Bank, one of South Koreas “Big 4” banks, has bought a $670 million stake in Dunamu, the parent company of crypto exchange Upbit. The acquisition makes Hana Bank the fourth largest shareholder in Dunamu with a 6.55% stake. This is the largest bank investment into a crypto exchange in Korean history, and it lands as part of a broader move by Korean banks to position themselves directly inside the digital asset space rather than around it. One of South Koreas “Big 4” banks bought a $670M stake in the parent company of Upbit. Hana Bank now holds 6.55% of Dunamu, becoming the 4th largest shareholder. What Hana Bank Just Bought Into Dunamu owns Upbit, the largest crypto exchange in South Korea by volume. Upbit handles the majority of retail crypto trading activity in the country and has been a dominant fixture in the Korean market for years. A 6.55% stake in Dunamu doesn‘t give Hana Bank full control, but it gives the bank a significant seat at the table for one of Asia’s most active crypto trading platforms. Hana Bank gets exposure to Dunamu‘s growth, access to crypto market data flows, and a strategic relationship that can be leveraged across the bank’s own product roadmap. Why