Samsung Units Invest $408M for 4% Stake in Dunamu
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Samsung Securities, Samsung SDS and Samsung Card will acquire 1.39 million shares (4.0% stake) in Dunamu for 612.8 billion won (~$408 million), valuing Upbit's operator at about $11.1 billion, per a May 28 report. The deal, following Hana Bank's planned 6.55% stake purchase, signals increased financial institution exposure to crypto and should boost funding, adoption and CEX stability ahead of new South Korean rules on stablecoins, tokenized securities and crypto payments.
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- Samsung Securities, Samsung SDS, and Samsung Card will buy 4% of Dunamu for about $408 million.
- The deal values Upbit operator Dunamu at about $11.1 billion based on the share price.
- Samsung’s move follows Hana Bank’s planned 6.55% Dunamu stake purchase.
Samsung Securities, Samsung SDS, and Samsung Card are moving deeper into South Korea’s digital-asset sector by purchasing a $408 million stake in Dunamu, the operator of Upbit.
The three Samsung affiliates will acquire a combined 4.0% stake from Kakao-linked shareholders, strengthening their ties to South Korea’s crypto sector ahead of new regulations for stablecoins, tokenized securities, and crypto payments.
Samsung Units Gain Direct Exposure To Upbit Operator Dunamu
According to a local media report, the three companies said on May 28 that they will buy 1.39 million shares for 612.8 billion won. S…
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