Upbit operator Dunamu lands Hana Bank as fourth-largest shareholder in $670 million deal

The bank will acquire approximately 2.3 million shares, representing a 6.55% stake, from a Kakao affiliate for about $670 million.

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Add us on Google by Vivian Nguyen May. 14, 2026

Dunamu, the South Korean digital asset company that owns Upbit, has secured a 1 trillion won ($670 million) investment from Hana Financial Group, part of the country’s “big four” banking group.

Under the deal, Hana Bank will acquire a 6.55% stake in Dunamu from Kakao Investment. The transaction makes Hana Bank Dunamu’s fourth-largest shareholder and includes a cooperation agreement to build infrastructure for a won-denominated stablecoin ecosystem.

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The investment is the latest sign that South Korean banks are moving decisively into digital assets, following Woori Bank’s April partnership with MoonPay on a won-backed stablecoin. Hana Financial Group said it was aimed at accelerating financial innovation tied to digital assets and expanding joint business projects with Dunamu.

In November 2025, Naver Financial, a subsidiary of Naver Corp., agreed to acquire Dunamu in a roughly $10 billion all-stock transaction. Naver Financial reportedly plans to pursue an IPO after completing that share swap.

South Korea has eased restrictions on corporate cryptocurrency ownership, with regulators now permitting listed companies to invest up to 5% of their equity in digital assets.

The decision represents a sharp reversal from earlier regulatory policy, when authorities cracked down on the crypto sector, prohibited corporate holdings and tightly controlled exchange operations.

The updated rules signal growing acceptance of digital assets within South Korea’s financial system as regulators adopt a more accommodative approach to the industry.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.