South Korea’s push toward regulated digital assets gained momentum after Hana Financial Group unveiled a KRW 1 trillion (~$668 million) investment in Dunamu, the operator of crypto exchange Upbit. Hana Bank will acquire a 6.55% stake from Kakao Investment for about 1.003 trillion won, making it Dunamu’s fourth-largest shareholder once the deal formally closes.
The deal signals growing confidence among traditional lenders as Seoul eases restrictions on corporate crypto activity and prepares new stablecoin rules. Moreover, the partnership positions Hana Financial to expand blockchain-based payments, overseas remittances, and digital wealth services in one of Asia’s fastest-changing crypto markets.
Blockchain strategy expands beyond trading
Hana Financial and Dunamu have started building blockchain-based financial services through Dunamu’s Giwa Chain network. Earlier this year, the companies tested an overseas remittance system that moved traditional foreign currency transfers onto blockchain rails. In February, they completed a proof of concept that replicated key functions of the SWIFT payment system.
The partnership expanded further in April after the firms signed a separate agreement with POSCO International for commercial testing. Hana now wants to speed up foreign exchange settlements and reduce transaction delays in cross-border payments. The strategy could help the bank compete more aggressively in Asia’s growing digital payments market.
The companies also plan to develop infrastructure for a won-based stablecoin. Their cooperation will cover issuance, payments, distribution, and circulation within South Korea’s digital economy. At the same time, Hana aims to combine its international banking network with Dunamu’s blockchain technology to explore overseas expansion and new digital asset services.
Korea’s crypto regulations continue shifting
South Korea’s easing stance on digital assets has encouraged major financial firms to deepen their crypto exposure. Regulators now allow listed companies to invest up to 5% of equity into digital assets, marking a major policy shift from earlier crackdowns on the sector. The regulatory changes have also increased competition among banks and fintech firms seeking positions in blockchain finance and stablecoin infrastructure.
Upbit operator Dunamu continues to dominate the local crypto market. The exchange handles more than 80% of domestic trading volume and ranks among the world’s largest spot trading platforms.
“This equity investment is a strategic decision to accelerate digital asset-based financial innovation,” Hana Financial Group Chairman Ham Young-joo said. “Together with Dunamu, we will lead the creation of a K-blockchain ecosystem and concentrate the group’s capabilities so that Korea’s digital asset industry can leap to a globally leading level.”
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