South Korean Banking Giant Hana Invests $670 Million in Upbit Operator Dunamu
Share:
Hana Bank has agreed to acquire 2.284 million shares (6.55%) of Dunamu, the operator of crypto exchange Upbit, in an all-cash deal valued at about 1.003 trillion KRW (~$670 million) expected to close on June 15. The purchase makes Hana the fourth-largest Dunamu shareholder and signals a strategic push into the digital asset sector to expand its crypto business and drive adoption.
Predictions Markets
See what traders are focused on
- Hana Bank acquired a 6.55% stake, equivalent to 2.284 million shares, in Dunamu, the operator of Upbit.
- The acquisition, valued at nearly $670 million in an all-cash deal, is expected to close by June 15.
- Hana aims to expand its digital asset business through these investment plans.
South Korean banking giant Hana Bank is making a major push into the digital asset industry after approving a massive investment in Dunamu, the company behind the country’s largest cryptocurrency exchange, Upbit.
According to regulatory filings, Hana Bank’s board approved the acquisition of 2.284 million shares in Dunamu from Kakao Investment in an all-cash transaction valued at around 1.003 trillion Korean won, or nearly $670 million.
The deal is expected to close on June 15 and will give Hana Bank a 6.55% stake in Dunamu, making it the fourth-largest shareholder in the company.…
Read The Full Article South Korean Banking Giant Hana Invests $670 Million in Upbit Operator Dunamu On Coin Edition.
Read More
Bitcoin, ether little changed as U.S. launches fresh Iran strikes
