TLDRHana Financial agreed to acquire a 6.55% stake in Dunamu for $668M through a share purchase from Kakao Investment.The company will buy more than 2.2 million shares, according to a regulatory filing released on Friday.Hana Financial said the acquisition aims to secure competitiveness in new finance through a strategic equity investment.Kakao Investment will retain about 1.4 million Dunamu shares while selling the remaining portion.The deal makes Hana Financial the fourth-largest shareholder in Dunamu, the operator of Upbit.Hana Financial has agreed to purchase a 6.55% stake in Dunamu, the operator of Upbit, for $668M. The group will buy more than 2.2 million shares from Kakao Investment. The deal strengthens Hana Financial’s position in digital asset services and expands its crypto exposure.Hana Financial and Upbit: $668M Equity Deal ConfirmedHana Financial disclosed the transaction in a regulatory filing on Friday. The company will acquire over 2.2 million Dunamu shares from Kakao Investment. The stake equals 6.55% of the Upbit operator. The purchase price exceeds 1.003 trillion won, or $668M.As a result, Hana Financial will become Dunamu’s fourth-largest shareholder. The filing states that the group seeks to secure “competitiveness in new finance through strategic equity investment.” Meanwhile, Kakao Investment confirmed the partial divestment in a separate filing. It said it will retain about 1.4 million shares while selling the remainder to raise “funds for future investments.”The transaction reshapes Dunamu’s shareholder structure. According to local reports, Chairman Song Chi-hyung holds 25.5% of Dunamu. Vice Chairman Kim Hyoung-nyon controls 13.1%. Kakao holds 10.6%, while Woori Technology Investment owns 7.2%.Traditional Finance Expands Crypto PartnershipsSeveral financial institutions in South Korea have increased exposure to crypto platforms this year. In February, Mirae Asset Consulting acquired a controlling stake in the exchange Korbit. The firm operates under Mirae Asset Group.Earlier this year, Coinone confirmed it was reviewing a potential share sale by its chairman. Local financial institutions and foreign exchanges reportedly showed interest. In 2023, Naver Financial agreed to acquire shares in Dunamu through a share swap. The agreement brought the Upbit operator under its corporate structure.Hana Financial has also pursued direct partnerships in digital assets. In April, the group signed a memorandum of understanding with POSCO International and Dunamu. The parties agreed to develop a blockchain-based remittance system.In March, Hana Financial reached an agreement with Standard Chartered Group. The two sides will collaborate in global financial and digital asset markets. The group also signed agreements with Circle and Crypto.com. These agreements aim to promote stablecoin payments for foreign visitors in South Korea.Circle issues the USDC stablecoin, while Crypto.com operates a major U.S. crypto exchange. Hana Financial confirmed these partnerships through official statements earlier this year. The company continues to expand its digital asset strategy through equity investments and service agreements.The post Hana Financial to Buy 6.55% Stake in Upbit Operator Dunamu appeared first on Blockonomi.