Kakao Sells $670M Dunamu Stake to Hana Bank

Hana Bank has agreed to acquire a significant stake in Dunamu, the parent company of cryptocurrency exchange Upbit, in a move that underscores the growing convergence between South Korea’s traditional banking sector and the digital asset industry.

The bank will purchase 2.28 million shares in Dunamu from Kakao Investments for approximately $670 million (1 trillion won), according to regulatory filings released Friday. The…