Hana Bank to acquire stake in Dunamu for $700 million, filing says
The logo of Hana Bank is seen at the bank's main office building in Seoul May 27, 2011.REUTERS/Lee Jae-Won
SEOUL, May 15 : South Korea's Hana Bank will acquire a 1 trillion won ($700 million) stake in Dunamu, operator of the country's largest cryptocurrency exchange, the bank's holding company said in a regulatory filing on Friday.
In a separate filing, Kakao Corp. said its investment subsidiary will sell a 1 trillion won share in privately held Dunamu on Friday.
Dunamu operates the Upbit cryptocurrency exchange, which handles a trading volume of more than 80 per cent in a booming virtual asset market and makes a hefty profit, according to analysts.
Hana Bank's acquisition is equivalent to a 6.55 per cent stake while Kakao Investment's share drops to 4.03 per cent, according to the filings.
($1 = 1,492.5900 won)
