Samsung Affiliates Announce Strategic Investment in Dunamu to Expand Digital Asset Footprint
Samsung Securities, Samsung SDS, and Samsung Card revealed on Thursday their joint plan to acquire a 4 percent equity stake in Dunamu, the prominent operator of South Korea’s largest cryptocurrency exchange, Upbit. This strategic move is aimed at significantly expanding their respective digital asset business ventures across various sectors.
The three key Samsung affiliates are set to acquire 1.39 million shares from various Kakao affiliates in an all-cash transaction valued at a substantial 612.8 billion won (approximately $446 million). Under the terms of the agreement, Samsung Securities will secure a 2 percent stake, while both Samsung SDS and Samsung Card will each acquire 1 percent. The completion of this significant transaction is officially scheduled for June 19.
The selling entities involved in this block sale include notable Kakao-affiliated investment vehicles: Kakao Investment, Kakao Ventures, the Kakao Youth Entrepreneurship Fund, and the KIF–Kakao Woori Bank Technology Finance Investment Fund. These entities will fully divest their existing holdings in Dunamu as part of this comprehensive deal.
Samsung affiliates emphasized that this crucial investment is designed to capitalize on the vast growth opportunities emerging within the rapidly expanding digital asset sector. This includes anticipating significant developments in won-based stablecoins and the evolving tokenized asset markets, both of which are expected to considerably broaden the scope and role of cryptocurrency exchanges in the financial landscape.
Delving into specific plans, Samsung Securities articulated its intention to bolster collaboration with Dunamu. Their focus will be on advancing token securities issuance and distribution, alongside enhancing virtual asset-related services. Furthermore, Samsung Securities plans to actively explore and pioneer new digital asset business opportunities to cement its position in this innovative space.
Samsung SDS outlined its strategy to leverage its core capabilities in advanced IT, artificial intelligence (AI), robust cloud computing, comprehensive security solutions, and sophisticated data management. By integrating these strengths with Dunamu’s specialized blockchain expertise, Samsung SDS aims to significantly enhance its blockchain software competitiveness and extend its digital finance infrastructure services.
In parallel, Samsung Card announced its commitment to collaborating with Dunamu on developing a cutting-edge digital asset payment ecosystem. This initiative potentially includes the introduction of crypto-based payment services on the Samsung Financial Group’s integrated Monimo platform, particularly contingent on the future introduction of won-based stablecoins.
A spokesperson from Samsung underscored that this strategic investment is fundamentally geared towards strengthening each participating affiliate’s competitiveness within the dynamic digital finance landscape. The overarching goal is to secure a leading position in the rapidly evolving and competitive global digital asset market.
A Dunamu official warmly welcomed the investment, highlighting the company’s enthusiasm to partner with the Samsung affiliates. Planned collaborations span key areas such as the development of innovative blockchain-based financial products, resilient payment infrastructure, efficient distribution systems, and advanced AI-powered services.
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