Samsung Securities, Samsung SDS and Samsung Card have jointly agreed to acquire a 4% stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit. The deal, valued at 612.8 billion won (approximately $408 million), involves the purchase of 1.39 million Dunamu shares from Kakao-linked entities. Samsung Securities will hold 2%, while Samsung SDS and Samsung Card will each own 1%.
The investment marks a significant strategic move as South Korea prepares to formalize its digital asset regulatory framework. Samsung's units plan to collaborate with Dunamu on tokenized securities, blockchain infrastructure, and digital asset payment services. Samsung Card, for instance, is eyeing the potential launch of won-pegged stablecoins and intends to integrate crypto payment and distribution features into its Monimo financial app. Samsung SDS aims to combine its AI, cloud, and security capabilities with Dunamu's blockchain expertise to serve Korean financial institutions. A Samsung official stated the equity investment is designed to strengthen each affiliate's competitiveness in digital asset-related businesses.
The transaction comes just two weeks after Hana Bank agreed to buy a 6.55% stake in Dunamu for roughly $670 million, and Hanwha Investment Securities raised its holding to 9.84%. Together, these deals moved nearly 14% of Dunamu shares among major Korean groups in under two weeks, with a combined disclosed value exceeding 2.2 trillion won. The rush signals growing institutional demand for exposure to Korea's regulated crypto infrastructure as lawmakers work on the Digital Asset Basic Act, which will cover stablecoins, tokenized securities, exchange ownership, and investor protection.
Dunamu's central role in the market—Upbit handled about two-thirds of South Korea's spot crypto trading volume last year—makes it a prime target for banks, brokerages, and tech firms positioning before the new rules crystallize. The deal aligns with a broader shift toward institutional crypto participation in South Korea, following moves by Mirae Asset, KB Kookmin Bank, and Shinhan into stablecoin and tokenization projects.
