Three Samsung affiliates agreed to buy a 4% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit, for a total of 612.8 billion won ($408 million), the Korea Herald reported.

Investment bank Samsung Securities is set to take a 2% stake in Dunamu in a 306 billion-won cash transaction, from affiliates of technology conglomerate Kakao, according to a Thursday filing. It is joined by credit card provider Samsung Card and IT arm Samsung SDS, each taking a 1% stake, according to the Korea Herald.

The deals, scheduled to complete on June 19, mean Kakao will have sold about $1.5 billion worth of equity in Dunamu in less than a month. It sold a 6.55% stake for about 1 trillion won to Seoul-based financial…