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South Korea's Hana Bank is acquiring a 1 trillion won ($670 million) stake in Dunamu, the company behind the country's dominant crypto exchange Upbit. The deal covers 2.28 million shares and will make Hana Bank the fourth-largest shareholder in Dunamu with a 6.55% stake.
The move is a significant signal from one of South Korea's largest traditional banks: institutional appetite for direct equity exposure to crypto-native infrastructure is no longer a fringe play. Upbit consistently handles the bulk of South Korean retail crypto volume, and a seat at the table as a top-five shareholder gives Hana Bank both financial upside and a strategic foothold in the country's digital asset ecosystem.
For the broader market, this is another data point in the accelerating convergence of TradFi and crypto — not through ETF wrappers or custody services, but through direct ownership of the exchange…
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