Samsung invests $480 million to acquire stake in Upbit parent company, laying groundwork for KRW stablecoin

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Author: HIBIKI, Crypto City Samsung subsidiaries acquire shares of Upbit exchange's parent company Samsung, the South Korean electronics giant whose stock price has risen over 140% this year, is entering the cryptocurrency industry! According to Yonhap News Agency, Samsung Securities, Samsung SDS, and Samsung Card resolved on May 28 to jointly acquire shares of Dunamu held by tech giant Kakao. Dunamu is the parent company of Upbit, the largest cryptocurrency exchange in South Korea. The Samsung subsidiaries acquired a total of 1.39 million shares for 612.8 billion KRW (approximately 480 million USD), with the transaction expected to close on June 19. Samsung Securities acquired a 2% stake, while Samsung SDS and Samsung Card each acquired 1%. The report indicates that considering the future expansion of asset categories such as KRW stablecoins and the extension of exchange businesses, Samsung's strategic investment in the cryptocurrency exchange aims to create new business opportunities in digital assets. A Samsung representative revealed that the acquisition strategy would strengthen the digital financial competitiveness of its subsidiaries and that they hope to secure a market-leading position through cooperation with Dunamu. Prior to the change in equity at the Upbit parent company, the exchange had suffered a hacking incident involving tens of billions of KRW and was caught by South Korean regulators for negligence in 700,000 KYC (Know Your Customer) process cases. Samsung subsidiaries deepen blockchain financial collaboration, laying the groundwork for KRW stablecoins The three Samsung subsidiaries that acquired Dunamu shares will collaborate with the company based on their respective business attributes. Samsung Securities plans to deepen collaboration in the issuance and circulation of Security Tokens (ST) and crypto asset services. Samsung SDS expects to combine its IT, AI, cloud computing, and data management technologies with Dunamu's blockchain operational experience to enhance competitiveness, aiming to strengthen next-generation digital financial infrastructure for domestic financial institutions in the future. Regarding payments, Samsung Card plans to cooperate with Dunamu once the KRW stablecoin system is institutionalized, providing digital asset payment functions within the Monimo App. A Dunamu official welcomed the move, stating that both parties will actively cooperate in blockchain financial products, payment infrastructure, and AI. Traditional finance rushes to buy Upbit shares, while Kakao rushes to sell The transaction between Samsung subsidiaries and the parent company of Upbit reflects the accelerating integration of South Korea's traditional financial industry and the cryptocurrency industry. Prior to this, Hana Financial Group also acquired a total of 6.55% of Dunamu shares from Kakao on May 15 this year for over 668 million USD. Ham Young-joo, Chairman of Hana Financial Group, stated that this investment is intended to accelerate digital asset financial innovation. Hana Group also announced in March that it has partnered with Circle, the issuer of the USD stablecoin USDC, and is currently testing stablecoin credit card payment functions domestically. In contrast to the entry of financial institutions, the seller, South Korean tech giant Kakao, is shifting its focus. Due to the downturn in the cryptocurrency market, Kakao's investment priorities have shifted to AI. The company is treating AI as its core strategy through its Kanana model and partnership with OpenAI, and has sold approximately 1.5 billion USD worth of Dunamu equity in less than a month. (The above content is excerpted and reprinted with authorization from our partner "Crypto City", original link)

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Source:區塊客

Published:2026-05-31 06:00:47

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