Samsung Affiliates to Buy Stake in Crypto Firm for $408 Million

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Samsung affiliates are planning to join the crypto industry with a big investment. They will together invest about $408 million to buy a stake in Dunamu, which operates Korea’s largest crypto exchange, Upbit. This shows the Korean firm’s increasing interest in digital assets like crypto and blockchain.

Samsung units step into the crypto industry through a Dunamu stake

The units involved are Samsung Securities, Samsung SDS, and Samsung Card. They will acquire a combined 4% stake in Dunamu by buying 1.39 million shares from a Kakao affiliate. The total value of the deal is estimated to be around 612.8 billion won ($408 million). Samsung Securities will take the largest share of the investment with a 2% stake. Meanwhile, Samsung SDS and Samsung Card will each take a 1% stake.

Samsung sees new business opportunities in areas such as cryptocurrency trading, blockchain systems, stablecoins, and tokenized assets. The company’s official said the investment will solidify each unit’s competitiveness in digital asset businesses. By collaborating closely with Dunamu, it aims to boost Korea’s emerging digital asset space.

Samsung Securities plans to issue and distribute tokenized securities and provide virtual asset services. Meanwhile, Samsung SDS will use its AI, cloud, cybersecurity, and data expertise with Dunamu’s blockchain technology. It wants to bolster the blockchain software business while expanding digital finance services in South Korea.

Speaking of Samsung Card, the company aims to make a payment ecosystem using digital assets. It may also integrate the service with Monimo, Samsung Financial Networks’ integrated financial platform. CoinMarketCap ranks Upbit among the world’s top three crypto exchanges. Dunamu’s value could increase further if Korea legalizes won-based stablecoins.

“We welcome the strategic equity investment by Samsung Securities, SDS and Card, and we plan to actively cooperate to develop and distribute blockchain-based financial investment products, build payment infrastructure, and expand into the AI field using blockchain technology,” said a Dunamu official.

Written by

Binay Konwar

Binay Konwar started his blogging journey in 2014 and has since written plenty of tech articles. At present, he is working as a News Writer at SammyGuru, covering everything about Samsung. He holds a Master's degree in Mathematics, but his real passion lies in tech and writing. In his free time, he enjoys playing chess and watching movies.

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