Hana Financial steps up digital asset push with Dunamu stake acquisition

Hana Financial Group Chairman Ham Young-joo, right, poses with Dunamu Vice Chairman Kim Hyoung-nyon during a memorandum of understanding signing ceremony in Seoul, Friday. The agreement includes Hana Bank’s acquisition of a roughly 1 trillion won ($667 million) stake in Dunamu. Courtesy of Hana Financial Group

Hana Financial Group has expanded its strategic partnership with Dunamu after acquiring a 6.55 percent stake in the digital asset company for about 1 trillion won ($667 million) through its core affiliate Hana Bank, the group said Friday.

The deal makes Hana Bank the fourth-largest shareholder of Dunamu, which operates Korea’s largest cryptocurrency exchange, Upbit. The bank’s board earlier in the day approved the purchase of Dunamu’s 2.284 million shares from Kakao Investment. This marks the largest-ever investment by a Korean commercial bank in a single digital asset company.

The investment comes as the global financial industry accelerates its transition toward blockchain and stablecoin infrastructure. Hana Financial described the partnership as an effort to merge traditional financial services with digital innovation capabilities in order to strengthen competitiveness in the rapidly evolving digital finance market.

Dunamu has established itself as the dominant player in the country’s digital asset sector, supported by its large user base and trading activity, as well as its technological infrastructure and internal control systems.

The latest deal has altered Dunamu’s shareholder composition.

As of the end of 2025, Chairman Song Chi-hyung remained the largest shareholder with a 25.51 percent stake, followed by Vice Chairman Kim Hyoung-nyon with 13.10 percent. Following the sale, former third-largest shareholder Kakao Investment, which previously owned 10.58 percent, dropped out of the top five shareholders, while Hana Bank rose to become the fourth-largest shareholder behind Woori Technology Investment, which holds a 7.20 percent stake.

Despite the acquisition, Upbit’s existing real-name account partnership with Kbank will remain in place.

Hana Financial said the deal was a strategic investment aimed at building a future-oriented financial ecosystem.

“This investment is a strategic step to accelerate digital asset-driven financial innovation,” Hana Financial Group Chairman Ham Young-joo said. “Together with Dunamu, we will lead the development of the Korean blockchain ecosystem and support the domestic digital asset industry’s leap toward global competitiveness.”

Industry observers said the deal’s influence could expand further if the proposed business combination between Dunamu and Naver Financial wins regulatory approval. The transaction is currently under review by the Fair Trade Commission. If approved, it would create a powerful digital finance alliance linking Upbit, Hana Financial Group and Naver.

“The partnership between a leading crypto platform, a major financial group and a dominant tech company could fundamentally reshape the investment and wealth management landscape,” an industry insider said.

In addition to the equity investment, Hana Financial and Dunamu also signed a strategic business agreement aimed at developing future-oriented financial models that connect traditional finance with digital assets. Since the end of last year, they have already been collaborating on blockchain-based overseas remittance services, with plans to further enhance the system to support real-time transactions and settlements.

Hana Financial said the initiative is expected to enhance customer convenience while reinforcing the group’s position in the foreign exchange market.

The partnership is also expected to lead to new wealth management services integrating digital assets with Hana Financial Group’s digital banking platforms.

The group said years of joint research on anti-money laundering and customer verification systems have helped build mutual technological trust, creating a foundation for broader cooperation in digital asset-based financial services.