Seoul: Hana Financial Group Inc., one of South Korea's major banking groups, has announced its decision to acquire a 6.55 percent stake in the country's leading crypto exchange operator, Dunamu, for 1 trillion won (US$669 million). This investment marks the largest-ever by a bank into a virtual asset operator.

According to Yonhap News Agency, Hana Financial made this disclosure in a regulatory filing, stating that its flagship Hana Bank will take over the stake from Kakao Investment. This acquisition positions Hana Financial as the fourth-largest shareholder in Dunamu, the operator of the crypto exchange platform Upbit.

The partnership between Hana Financial and Dunamu signals a strategic move toward enhanced business cooperation beyond traditional services. This includes potential ventures into future financial services such as stablecoin issuance. The investment comes at a time when local crypto exchange operators are experiencing increased pressure from the financial regulator to reduce major shareholders' stakes. This is part of an effort to strengthen financial soundness and enhance business responsibility.