Samsung SDS headquarters in Songpa District, Seoul / Courtesy of Samsung SDS
Three Samsung affiliates are making a sweeping move into digital assets, betting that stablecoins, blockchain finance and crypto-linked payments could reshape Korea’s financial industry faster than many expected.
Samsung Securities, Samsung SDS and Samsung Card said Thursday that they had agreed to acquire a combined 4 percent stake in Dunamu, the operator of Korea’s largest cryptocurrency exchange, Upbit.
The companies said they will purchase 1.39 million shares from a Kakao affiliate for 612.8 billion won ($408 million).
Samsung Securities will acquire a 2 percent stake, while Samsung SDS and Samsung Card will each take 1 percent.
