Samsung Buys $408M Stake in Upbit Operator Dunamu
Ted Hisokawa May 28, 2026 13:12
Samsung Securities, SDS, and Card acquire a 4% stake in Upbit operator Dunamu for $408M, signaling deeper involvement in South Korea's crypto sector.
Samsung Group is making a significant bet on South Korea’s crypto market. Three of its affiliates—Samsung Securities, Samsung SDS, and Samsung Card—will collectively acquire a 4% stake in Dunamu, the operator of the country’s largest cryptocurrency exchange, Upbit. The $408 million deal, sourced from Kakao affiliates, underscores Samsung’s growing presence in blockchain and digital assets as South Korea advances its crypto regulations.
According to reports from Yonhap News Agency and ZDNet Korea, the transaction involves the purchase of 1.39 million Dunamu shares. Samsung Securities will acquire a 2% stake, while Samsung SDS and Samsung Card each take 1%. This move follows weeks after Samsung SDS reportedly won a contract to develop South Korea’s blockchain-based securities platform, positioning Samsung across both tokenized securities infrastructure and private-sector crypto operations.
Dunamu has been at the heart of South Korea’s digital asset ecosystem since it launched Upbit in 2017. Over the years, Upbit has grown into the country’s largest crypto exchange by trading volume, helping Dunamu secure a pivotal role in the sector. Recent activity around Dunamu further highlights its market significance. On May 15, Hana Financial Group announced the acquisition of a 6.55% stake in Dunamu for $670 million, making it the fourth-largest shareholder. The Samsung deal now reduces Kakao’s stake in Dunamu even further as legacy financial and tech institutions deepen their crypto involvement.
Samsung’s investment comes at an opportune moment. South Korea has been laying the groundwork for comprehensive crypto and blockchain regulations. Amendments to the Electronic Registration Act and the Financial Investment Services and Capital Markets Act were passed in January 2026. These amendments legally recognize blockchain-based distributed ledgers as securities registries, with full implementation targeted for early 2027. Dunamu, through its blockchain expertise and Upbit’s dominance, is likely to play a central role in this evolving regulatory environment.
Operational synergies between Samsung and Dunamu appear central to the deal. Samsung Securities plans to collaborate with Dunamu on tokenized securities issuance and distribution, while Samsung SDS will leverage its expertise in IT, artificial intelligence, and cloud services to enhance Dunamu's blockchain operations. Meanwhile, Samsung Card is expected to explore digital asset payment use cases with Dunamu, potentially integrating crypto features into Samsung Financial Networks' Monimo app as the country prepares for the introduction of won-denominated stablecoins.
The deal also fits into Samsung’s broader strategy of aligning itself with blockchain infrastructure development. Earlier this month, Samsung SDS was awarded the contract to build the Korea Securities Depository’s blockchain-based securities platform, which will serve as the backbone for the country’s tokenized securities market. With its Dunamu investment, Samsung is now positioned to straddle both regulated tokenized securities and private cryptocurrency markets.
For Dunamu, the Samsung partnership further cements its role as a bridge between traditional finance and crypto innovation. The company has recently expanded its international footprint, including a strategic MOU with Indonesia Crypto Exchange (ICEx) in April to develop regulated digital asset infrastructure in Indonesia. However, it hasn’t been without challenges—Dunamu faced a $30 million hack in late 2025, underscoring ongoing security risks in the space.
As South Korea formalizes its regulatory frameworks, including rules for stablecoins and tokenized securities, Samsung’s Dunamu stake positions the tech giant to capitalize on this growing sector. The next key milestone will be February 4, 2027, when the new blockchain-based securities framework fully takes effect. In the meantime, all eyes will be on how Samsung and Dunamu execute their partnership to shape the future of South Korea’s digital asset economy.
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