South Korea's Hana Bank has acquired 2.28 million shares in Dunamu — the company behind leading Korean crypto exchange Upbit — for approximately $670 million. The purchase gives Hana Bank a 6.55% ownership stake, making it Dunamu's fourth-largest shareholder. The deal represents one of the largest direct investments by a traditional bank into a major crypto exchange operator.
When a major regulated bank writes a $670 million check for a crypto exchange operator, it signals institutional confidence in crypto's long-term role in mainstream finance — not as a fringe asset, but as a core business. This strengthens the legitimacy narrative that has been driving institutional crypto adoption, and is broadly positive for large-cap crypto assets and exchange-linked tokens. It also raises the bar for how seriously regulators and investors must treat crypto market infrastructure.
Watch for Hana Bank's official integration announcements with Upbit services (likely Q3 2025). Also monitor South Korea's Virtual Asset User Protection Act enforcement updates and any FSC (Financial Services Commission) regulatory guidance on bank-crypto partnerships.
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