An AI-generated image shows Samsung financial and IT affiliates acquiring a combined 4% stake in Dunamu, operator of South Korea’s Upbit cryptocurrency exchange, from Kakao-linked investors. AI-generated image by Asia Today and translated by UPI
May 28 (Asia Today) -- Samsung Securities has acquired a stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, marking a broader push by Samsung financial and technology affiliates into the digital asset market.
Samsung SDS and Samsung Card also joined the investment, giving Samsung's finance and information technology units a new platform for cooperation in digital assets.
Samsung Securities, Samsung SDS and Samsung Card each held board meetings Thursday and approved the purchase of a combined 4% stake, or 1,394,974 shares, in Dunamu from Kakao affiliates and related funds for 612.8 billion won, or about $408 million, according to the Financial Supervisory Service. The shares are scheduled to be acquired June 19.
Samsung Securities will purchase the largest portion, taking a 2% stake, or 697,487 shares, for about 306.4 billion won, or about $204 million. Samsung SDS and Samsung Card will each acquire 1%, or 348,743 shares, for about 153.2 billion won, or about $102 million.
