Three Samsung group affiliates are investing a combined 612.8 billion won ($408 million) in Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit. Samsung Securities, Samsung SDS and Samsung Card are acquiring stakes of 2%, 1% and 1% respectively. The shares were purchased from Kakao Investment, the arm of the social media firm which earlier this month sold a larger 6.55% stake to Hana Bank for just over 1 trillion won. The two transactions together represent Kakao’s complete exit from Dunamu, with the deal pricing implying a valuation of roughly 15.3 trillion won ($10.2 billion).

All three Samsung companies cited the expansion of digital assets including