Why Are Samsung Affiliates Investing in Dunamu?
Samsung Securities, Samsung SDS, and Samsung Card will acquire a combined 4% stake in Dunamu, the operator of South Korea’s largest crypto exchange Upbit, in a deal that expands Samsung affiliates’ exposure to digital asset infrastructure before new crypto rules take shape.
The three affiliates approved the purchase of 1.39 million Dunamu shares from Kakao affiliates for about 612.8 billion won, or roughly $408 million, according to local reports. Samsung Securities will acquire a 2% stake, while Samsung SDS and Samsung Card will each acquire 1%.
The investment places Samsung closer to one of South Korea’s most important crypto market operators at a time when banks, securities firms, card companies, and technology groups are preparing for a more formal digital asset framework. Dunamu’s Upbit exchange remains a central venue in the country’s crypto market, giving strategic investors exposure to exchange operations, blockchain infrastructure, and future regulated products.
The deal also follows a separate investment by Hana Financial Group, which recently disclosed plans to acquire a 6.55% stake in Dunamu for about 1 trillion won, or roughly $670 million. Together, the transactions point to a broader shift in South Korea’s financial sector, where major institutions are positioning before stablecoin, tokenized securities, and digital asset rules are finalized.
How Does The Deal Fit Samsung’s Digital Asset Strategy?
The three Samsung affiliates appear to be entering Dunamu with different strategic goals. Samsung Securities is expected to work with Dunamu on tokenized securities issuance, distribution, and other digital asset services. That would align the brokerage business with one of the country’s largest crypto platforms as South Korea prepares a formal market structure for blockchain-based securities.
Samsung SDS, the group’s IT and logistics arm, is expected to use Dunamu’s blockchain operations experience across artificial intelligence, cloud, security, and data management. Dunamu also operates Giwa, an Ethereum Layer-2 blockchain currently in testnet, giving Samsung SDS access to a live blockchain development track rather than only exchange-level exposure.
Samsung Card is expected to explore digital asset payment use cases with Dunamu through Monimo, Samsung Financial Networks’ integrated app. That part of the transaction is closely tied to South Korea’s pending stablecoin policy debate, especially as regulators study rules for won-denominated stablecoins and on-chain payment services.
Investor Takeaway
Samsung’s Dunamu investment is not just a passive exposure trade. Each affiliate is entering from a different angle: brokerage distribution, enterprise blockchain infrastructure, and consumer payment rails. That makes the transaction a strategic bet on regulated crypto adoption in South Korea.
Why Is South Korea’s Regulatory Timeline Important?
South Korea is building a more comprehensive digital asset framework through the Digital Asset Basic Act and related reforms covering stablecoins, tokenized securities, and local crypto operations. The investment activity around Dunamu shows that major financial groups expect the next phase of regulation to create new licensed business lines rather than only tighter compliance costs.
The tokenized securities track is already moving. Lawmakers passed amendments to the Electronic Registration Act and the Financial Investment Services and Capital Markets Act in January, recognizing blockchain-based distributed ledgers as securities registries. The framework is scheduled to take effect on Feb. 4, 2027, after subordinate rules and market infrastructure are prepared.
Samsung SDS has also reportedly won a contract to build and operate the Korea Securities Depository’s blockchain-based securities platform. That places Samsung affiliates on both sides of the emerging market: national securities infrastructure through Samsung SDS and private-sector digital asset exposure through Dunamu.
The stablecoin track remains less settled. South Korea’s Financial Services Commission has said discussions are continuing on second-phase virtual asset legislation, while key details such as issuer structures have not been finalized. That uncertainty makes Samsung Card’s potential payment work with Dunamu more exploratory, but it also explains why large firms are moving before final rules are issued.
What Does This Mean for Upbit and Institutional Crypto Adoption?
For Dunamu, the Samsung and Hana investments strengthen its position as crypto becomes more closely linked with mainstream finance. The company is also processing a merger-acquisition with Naver Financial, the financial services arm of Naver, which could further connect exchange activity with consumer fintech distribution.
The wider market is moving in the same direction. Mirae Asset announced in February that it would buy a 92% stake in Korbit, while KB Kookmin Bank, Shinhan, and other large institutions have been forming partnerships and running proof-of-concepts with crypto firms for won-pegged stablecoins, tokenized securities, and on-chain payments.
For investors, the core point is that South Korea’s crypto market is shifting from exchange-led retail trading toward institutional infrastructure. Securities distribution, blockchain registries, stablecoin rules, and consumer payment apps are starting to converge around regulated digital asset rails.
The main risk is that regulation remains incomplete. Stablecoin issuer rules, tax treatment, and operating standards for digital asset services still need final detail. But the direction of travel is clear: major Korean financial and technology groups are buying exposure before the framework is fully implemented, betting that formal rules will expand the addressable market for tokenized assets and crypto-linked payment services.
