Three Samsung affiliates — Samsung Securities, Samsung SDS, and Samsung Card — are collectively buying a 4% stake in Dunamu, the company behind South Korea's largest cryptocurrency exchange Upbit, for $408 million. The investment signals a strategic push by traditional Korean conglomerates to get ahead of upcoming regulations for tokenized securities and stablecoins.
A bet on regulated digital assets
The deal marks one of the biggest direct investments by a Korean chaebol into a crypto-native firm. Dunamu operates Upbit, which handles the bulk of Korean won-denominated crypto trading. For Samsung, the stake provides a foothold in the infrastructure likely to underpin the country's future digital asset market.
Each affiliate is buying a portion of the 4% stake; the exact split wasn't disclosed. At $408 million, the deal values Dunamu at roughly $10.2 billion.
Why tokenized securities and stablecoins matter
Korean regulators have been drafting rules to allow tokenized securities — digital tokens that represent ownership of traditional assets like stocks or bonds. Stablecoins, digital currencies pegged to the Korean won or other fiat, are also being reviewed. The three Samsung units are betting that a regulated market for these products will emerge, and they want to be ready with a stake in a major exchange operator.
Dunamu already has experience dealing with regulators. Upbit was one of the first Korean exchanges to obtain a formal license under the country's stricter crypto laws last year. That compliance track record likely made it an attractive partner for Samsung.
What the investment means for Samsung
Samsung Securities brings brokerage expertise, Samsung SDS offers IT and blockchain know-how, and Samsung Card provides payment infrastructure. Together, they cover the main business lines that would be needed for tokenized securities trading and stablecoin services. The move echoes similar steps by other Korean financial firms, which have been forming consortia or investing in crypto startups to prepare for regulatory changes.
The purchase price — $408 million for just 4% — reflects Dunamu's dominant position in the Korean market. Upbit processes over 80% of the country's crypto exchange volume, giving Dunamu significant leverage as regulations evolve.
Next steps
The acquisition is expected to close in the coming months, pending standard approvals. Once completed, Samsung affiliates will have a direct line into Dunamu's operations and a seat at the table as Korea finalizes its tokenized securities and stablecoin frameworks. The deal puts Samsung at the front of a wave of institutional money flowing into regulated crypto infrastructure.
