Samsung units to buy $408 million stake in South Korea’s biggest crypto exchange

📄Full Article· Automatically extracted by trafilatura2764 words

Samsung units to buy $408 million stake in South Korea’s biggest crypto exchange Samsung Securities is set to take a 2% stake in Dunamu, worth over $200 million, from affiliates of technology conglomerate Kakao. What to know: - Three Samsung affiliates agreed to buy 4% of Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit, from tech conglomerate Kakao. - The $408 million transaction means Kakao has now offloaded about $1.5 billion worth of equity in Dunamu in less than a month. - Samsung, the largest company in South Korea, has been actively involved in the crypto industry for several years, having introduced its digital asset wallet in 2019. Three Samsung affiliates agreed to buy a 4% stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit, for a total of 612.8 billion won ($408 million), the Korea Herald reported. Investment bank Samsung Securities is set to take a 2% stake in Dunamu in a 306 billion-won cash transaction, from affiliates of technology conglomerate Kakao, according to a Thursday filing. It is joined by credit card provider Samsung Card and IT arm Samsung SDS, each taking a 1% stake, according to the Korea Herald. The deals, scheduled to complete on June 19, mean Kakao will have sold about $1.5 billion worth of equity in Dunamu in less than a month. It sold a 6.55% stake for about 1 trillion won to Seoul-based financial institution Hana Bank about two weeks ago, followed by a 600 billion won stake to Hanwha Investment and Securities. In common with many technology giants, Kakao has made artificial intelligence an increasingly central part of its strategy through its "Kanana" AI models and partnerships with OpenAI. With the cryptocurrency market in a sustained bearish mood, crypto is taking a backseat to AI for a lot of major companies' investment priorities. Samsung, the largest company in South Korea, has been actively involved in the crypto industry for several years, having introduced its digital asset wallet in 2019. Samsung Securities shares fell 2.7%, Samsung SDS dropped 5% and Samsung Card gained 0.21% on Thursday. Kakao slipped 1%. The companies had not responded to a CoinDesk request for comment by publication time. More For You Project Agorá, backed by major central banks, will now move toward "real-value" testing to settle tokenized central bank money and bank deposits on blockchain rails. What to know: - Project Agorá, backed by the Bank for International Settlements, found that tokenizing central bank reserves and commercial bank deposits could significantly improve the speed and reliability of payments across borders. - With major central banks like the New York Fed, Bank of England and Bank of Japan involved, members now plan...

Data Status✓ Full text extractedRead Original (CoinDesk)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-28

Samsung Just Bet $408 Million On South Korea’s Top Crypto Exchange — And It’s Not Alone

2026-05-28

Samsung Units Acquire a $408 Million Stake in Upbit Operator Dunamu

Similarity 230%關鍵字 samsung/units/stake

2026-05-28

Samsung Affiliates Pay $408 Million for Upbit Operator Stake, Closing June 2026

2026-05-28

Samsung units take $408M stake in Upbit operator Dunamu: Report

Similarity 180%關鍵字 samsung/units/stake