Hana Bank Acquires $670 Million Stake in Dunamu, Becomes Upbit’s Fourth-Largest Shareholder

TLDR:

• Hana Bank filed to acquire 2.28 million Dunamu shares for 1.003 trillion won, closing on June 15, 2026.
• The deal marks the largest-ever investment by a Korean bank into a digital asset company to date.
• Upbit holds over 80% of South Korea’s crypto trading volume and ranks third globally on CoinMarketCap.
• Korea’s Digital Asset Basic Act is actively being developed, reshaping the country’s crypto regulatory framework.

Hana Bank, one of South Korea’s leading financial institutions, is acquiring a $670 million stake in Dunamu, the operator of the Upbit crypto exchange.

The deal involves 2.28 million shares purchased from Kakao Investments for 1.003 trillion Korean won. This move positions Hana Bank as Dunamu’s fourth-largest shareholder with a 6.55% stake.

The transaction is scheduled to close on June 15, marking a turning point for traditional banking in the digital asset space.

Korea’s Biggest Banking Investment in Digital Assets

In a Friday regulatory filing, Hana Bank disclosed the purchase of 2.28 million Dunamu shares from Kakao Investments.

The all-cash transaction is valued at 1.003 trillion Korean won, equivalent to $669.2 million. Hana Bank is committing 2.78% of its own equity to complete the deal.

The acquisition represents the largest-ever investment by a Korean bank in a digital asset company, according to local outlet Newsis.

A separate regulatory filing from Kakao Investments confirmed the sale of the 2.28 million shares. After the transaction, Kakao will retain 1.4 million shares, representing a 4.03% stake in Dunamu.

Hana Financial Group reported an annual net profit of 4 trillion won, roughly $2.67 billion, last year. The group has steadily expanded into digital assets through targeted partnerships and equity moves.

In 2024, Hana partnered with SK Telecom and BitGo to establish BitGo Korea, holding a 25% stake in that venture.

In March 2026, Hana’s credit card subsidiary entered a USDC-related marketing agreement with Circle and Crypto.com.

A separate collaboration with Standard Chartered Group also focused on digital asset initiatives. These moves collectively reflect a deliberate strategy by Hana to build presence across the crypto sector.

Dunamu’s Growing Role in Korea’s Crypto Market

Upbit, operated by Dunamu, consistently holds over 80% of South Korea’s crypto trading volume by market share.

The platform currently ranks third on CoinMarketCap’s list of top global spot exchanges. Daily trading volume has surpassed $1 billion, reinforcing its standing in the regional market.

Dunamu is also processing a merger with Naver Financial, the financial services arm of Naver Group. Once finalized, the deal is expected to consolidate Upbit’s corporate structure within one of Korea’s largest technology groups. This would further anchor Dunamu’s position in the country’s financial ecosystem.

South Korea’s regulatory environment is simultaneously undergoing major changes. Legislators and authorities are developing the Digital Asset Basic Act, a comprehensive framework for crypto operations. The act also covers guidelines specifically for local stablecoin activity.

In its Friday filing, Hana Bank stated the investment aims to “secure competitiveness in the new financial landscape” through strategic equity investment.

Traditional financial institutions are clearly repositioning as digital asset regulations continue to take shape across Korea.

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