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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, May 26 — Hana Financial Group’s acquisition of a major stake in Dunamu is reshaping South Korea’s crypto-banking landscape, raising questions over existing partnerships and regulatory frameworks.
According to industry sources, Hana Bank will become a top-five shareholder in Dunamu after acquiring a 6.55% stake for approximately KRW 1 trillion. The move marks the first time a major commercial bank has taken a significant ownership position in a cryptocurrency exchange operator.
The development is seen as a potential challenge to K Bank, which has maintained an exclusive real-name account partnership with Dunamu’s Upbit platform since 2020. With the partnership set to expire in October, market participants are closely watching whether the long-standing exclusivity will be disrupted.
The investment also signals a possible easing of South Korea’s long-standing separation between financial institutions and crypto businesses. Regulators have indicated that evolving global trends and upcoming legislation may prompt a reassessment of existing restrictions, suggesting a shift toward a more flexible regulatory approach.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
