Samsung Group Companies Invest $408M in Dunamu, Upbit's Parent Firm: Reports
Three Samsung affiliates—Securities, SDS, and Card—are acquiring a combined 4% ownership in Dunamu amid South Korea's push toward tokenized securities and stablecoin regulation.
Three affiliates under the Samsung umbrella—Samsung Securities, Samsung SDS, and Samsung Card—are set to acquire a 4% combined ownership stake in Dunamu, which operates Upbit, South Korea's leading cryptocurrency exchange, in a transaction that broadens Samsung-affiliated companies' involvement in the nation's burgeoning digital asset sector, according to reports from local media outlets.
During board meetings held on Thursday, the three Samsung-affiliated companies gave their approval to purchase 1.39 million shares of Dunamu currently held by Kakao-affiliated entities for 612.8 billion won ($408 million), as reported by Yonhap News Agency and ZDNet Korea. The breakdown shows Samsung Securities taking a 2% ownership position, with Samsung SDS and Samsung Card each securing 1% stakes.
This investment represents a continuation of Samsung's movement into digital assets, coming just weeks after Samsung SDS was reportedly awarded a contract to develop South Korea's blockchain-powered securities infrastructure platform, positioning Samsung-affiliated entities across both government-regulated tokenized securities systems and privately-operated cryptocurrency exchange and payment infrastructure.
The transaction also comes on the heels of another significant investment in Dunamu by a major South Korean financial institution. On May 15, Hana Financial Group announced its intention to purchase a 6.55% ownership stake in Dunamu from Kakao Investment for over $668 million, which would establish it as the fourth-largest shareholder in the company that operates Upbit.
According to the reports, Samsung Securities intends to collaborate with Dunamu on the issuance and distribution of tokenized securities, along with other digital asset-related services, while Samsung SDS aims to integrate its information technology, artificial intelligence, cloud computing, security, and data management capabilities with Dunamu's expertise in blockchain operations.
Meanwhile, Samsung Card is anticipated to investigate potential use cases for digital asset payments in partnership with Dunamu, potentially incorporating these into Samsung Financial Networks' integrated application Monimo, as South Korea advances toward implementing regulatory frameworks for won-denominated stablecoins and tokenized securities products.
Cointelegraph contacted both Samsung and Dunamu seeking additional information regarding the transaction, but had not received a response by the time of publication.
Samsung builds digital asset ties ahead of regulatory frameworks
The investment by Samsung in Dunamu comes in the wake of another blockchain infrastructure development involving the conglomerate. In early May, Samsung SDS was reportedly selected to construct and manage the Korea Securities Depository's blockchain-powered securities platform, which is anticipated to underpin South Korea's forthcoming regulatory framework for tokenized securities products.
South Korea is working to establish its tokenized securities regulatory framework following lawmakers' passage of amendments to the Electronic Registration Act and the Financial Investment Services and Capital Markets Act in January. The Financial Services Commission stated that these modifications provide legal recognition for blockchain-based distributed ledger technology as legitimate securities registries, positioning the KSD as the central authority in the market's infrastructure development.
The regulatory framework is slated to become operational on Feb. 4, 2027, following the completion of updates to subordinate regulations and the establishment of necessary infrastructure components.
Based on the local media reports, Samsung Card is exploring potential digital asset payment applications in conjunction with Dunamu through Samsung Financial Networks' integrated application Monimo, although the companies have not made any formal announcements regarding a stablecoin or payment product launch.
In January, South Korea's Financial Services Commission indicated that it was maintaining ongoing discussions with relevant government agencies concerning the country's second-phase virtual asset legislation, while issuing a caveat that critical details, including the structural requirements for stablecoin issuers, remained under consideration and had not yet been finalized.