BREAKING: South Korea's largest bank, KB Kookmin, successfully pilots KRW stablecoin integration for offline payments and global remittances on @KaiaChain. 🇰🇷
SOUTH KOREAN BANKING GIANT BUYS $670M STAKE IN UPBIT OPERATOR
Hana Bank acquired a $670 million stake in Dunamu, the operator of South Korea’s largest crypto exchange Upbit.
Bloomberg reported the deal values the purchase at roughly 1 trillion won.
Hana Bank’s board approved the acquisition of 228 million shares from Kakao Investment.
Dunamu is the company behind Upbit, South Korea's largest and most traded crypto exchange.
JUST IN: Hana Bank, one of South Korea’s largest commercial banks, acquired a $670 million stake in Dunamu, the operator of the country’s largest crypto exchange Upbit.
The firms also agreed to cooperate on building infrastructure for a won-denominated stablecoin ecosystem.