Samsung Securities is planning to acquire a 2% stake in Dunamu, the operator of Upbit, with an estimated investment of around $203 million.

BlockBeats News, May 28, Samsung Securities is acquiring a stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, to accelerate its digital financial competitiveness. Recently, South Korea's financial regulatory authorities hinted at relaxing the "Kimchi Premium" (the separation of the financial industry from the virtual asset industry) policy, signaling the formal acceleration of integration between traditional financial institutions and cryptocurrency exchanges.

Samsung Securities held a board meeting on the 28th and announced that it will acquire 697,487 shares of Dunamu's old stock, corresponding to a stake of approximately 2.00%. The total acquisition amount is approximately 3.637 trillion Korean won (about $2.03 billion), accounting for about 3.8% of Samsung Securities' equity (80.68 trillion Korean won). The sellers include Kakao Investment, Kakao Ventures, Kakao Young Entrepreneurs Fund, and KIF-Kakao Woori Bank Tech-Finance Investment Fund, which hold old shares.

Samsung Securities' acquisition price is approximately 43,925 Korean won per share, which is the same as the share repurchase request price in the previous comprehensive stock-for-stock transaction between Dunamu and Naver Financial. Based on this calculation, Dunamu's overall valuation is approximately 153 trillion Korean won.