Hana Bank to acquire $670 million stake in Dunamu, Upbit operator

Hana Bank has announced it will acquire a 6.55% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, in a deal valued at roughly 1.003 trillion won (about $670 million) according to regulatory filings.

Under the transaction, Hana will purchase 2,284,000 shares from Kakao Investment in a cash deal, with the share transfer expected to be completed on June 15, 2026. The acquisition will make Hana the fourth-largest shareholder in Dunamu, while Kakao’s holding will be reduced to around 4%.

The two parties said they plan to collaborate on a range of digital-asset initiatives, including a won-pegged stablecoin, blockchain-based remittances and tokenized securities and asset-management products, signaling a strategic push by a traditional bank into regulated digital finance services.

Market implications are significant: Upbit controls a dominant share of domestic crypto trading volumes, and Hana’s investment highlights growing integration between mainstream banking and crypto exchanges. The deal could accelerate product rollouts linking bank custody, payments and exchange services, while also drawing closer regulatory scrutiny.

Analysts view the move as a calculated step to secure competitiveness in new finance by combining Hana’s distribution and trust infrastructure with Dunamu’s blockchain capabilities; however, they caution that regulatory developments around stablecoins and digital-asset custody will be decisive for commercial rollouts and risk management. Market participants will watch closing conditions and subsequent joint product announcements closely.