Samsung acquires $408M stake in Upbit operator Dunamu
7.2 Investments Samsung affiliates will acquire a 4% stake in Dunamu, Upbit’s operator, for $408M. The deal boosts Samsung’s digital asset presence and includes collaboration on blockchain, payments, and AI.
Three Samsung affiliates—Samsung Securities, Samsung SDS, and Samsung Card—have agreed to acquire a combined 4% stake in Dunamu, the operator of South Korea’s largest crypto exchange, Upbit, for approximately $408 million. The purchase involves 1.39 million shares from Kakao affiliates, with Samsung Securities taking a 2% stake, and Samsung SDS and Samsung Card each acquiring 1%. This strategic investment is designed to expand Samsung’s presence in the digital asset sector. The companies plan to collaborate with Dunamu on blockchain-based financial products, payment infrastructure, tokenized securities, and AI-driven initiatives. The move signals growing institutional confidence in South Korea’s evolving crypto market and follows similar investments by other major financial groups. Dunamu, which operates the Giwa Ethereum Layer-2 blockchain, handled about two-thirds of the country’s spot crypto trading volume last year, making Upbit one of the world’s busiest crypto exchanges.
