Korea's K Bank Acquires 6.55% Stake in Upbit's Parent Company Dunamu for $670 Million

BlockBeats News, May 15th, according to Bloomberg, South Korea's major commercial bank Hana Bank has acquired a stake in Upbit's operator Dunamu worth approximately $670 million, demonstrating the further embrace of digital assets by the Korean banking industry.

Hana Financial Group stated that the Hana Bank board has approved the purchase of 228 million shares of Dunamu, representing a 6.55% stake, from Kakao Investment.

Another document indicates that Kakao's investment subsidiary will sell approximately $700 million worth of Dunamu shares today, reducing its ownership stake to 4.03%.