Hana Bank to Invest $670 Million in Cryptocurrency Exchange Operator Dunamu

Deep News05-15

Hana Bank is set to invest approximately $670 million to acquire a stake in cryptocurrency exchange operator Dunamu, marking the largest single investment by a South Korean bank in a digital asset entity. In a statement issued on Friday, its parent company, Hana Financial Group, announced that the commercial bank will purchase 2.284 million shares of Dunamu, representing a 6.55% stake, from an affiliate of internet company Kakao on June 15. The transaction is valued at 1.003 trillion won, equivalent to $672.5 million. Kakao confirmed the deal in a regulatory filing earlier on Friday. Upon completion, Hana Bank will become the fourth-largest shareholder of Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit.

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In a statement issued on Friday, its parent company, Hana Financial Group, announced that the commercial bank will purchase 2.284 million shares of Dunamu, representing a 6.55% stake, from an affiliate of internet company Kakao on June 15. The transaction is valued at 1.003 trillion won, equivalent to $672.5 million. Kakao confirmed the deal in a regulatory filing earlier on Friday. 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