Hana Bank Acquires Stake in Upbit Owner

South Korean bank Hana Bank is set to acquire a substantial $672.5 million stake in Dunamu, the company that operates the prominent Upbit cryptocurrency exchange. This strategic investment, scheduled for June 15, will grant Hana Bank a 6.55% ownership in Dunamu. The move signifies a growing interest from traditional financial institutions in the burgeoning digital asset sector and highlights the increasing integration of cryptocurrency exchanges within the broader financial landscape. This partnership could potentially influence future developments in South Korea's fintech and crypto markets.