Hana Financial to Acquire 6.55% Stake in Dunamu for $669 Million
Largest Bank Investment in South Korean Crypto Exchange Operator
L'essentiel
Hana Financial Group to buy 6.55% stake in Dunamu (Upbit operator) for $669M, the largest bank investment in a South Korean crypto exchange, signaling expanded financial service cooperation.
Résumé généré par IA
Pourquoi c'est important
South Korean crypto exchanges face regulatory pressure to improve financial soundness.
SEOUL, May 15 (Yonhap) -- Hana Financial Group Inc., one of South Korea's major banking groups, said Friday it has decided to buy a stake in the country's top crypto exchange operator Dunamu for 1 trillion won (US$669 million), the largest-ever investment by a bank into a virtual asset operator. In a regulatory filing, Hana Financial said its flagship Hana Bank will take over a 6.55 percent stake in Dunamu, the operator of Upbit, from Kakao Investment. Hana Financial will become the fourth-largest shareholder after the stake takeover. The alliance between an established financial institution and a virtual asset operator heralds their business cooperation going beyond simple services, such as a real-name account for virtual asset transactions, to future financial services, such as stablecoin issuance. The move also comes as local crypto exchange operators have been under pressure from the financial regulator to sharply lower major shareholders' stakes in the operator as part of efforts to shore up financial soundness and their business responsibility.
À surveiller
Perspective IA — des possibilités, pas des certitudes
Increased regulatory clarity on bank-crypto partnerships in South Korea
Probable · En quelques mois
Questions ouvertes
- Future regulatory responses to bank-crypto alliances
