Samsung Units Acquire $408 Million Stake in Upbit Operator Dunamu
0h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
samsungdunamu
Fazen Markets Editorial Desk
Collective editorial team · methodology
Trades XAUUSD 24/5 on autopilot. Verified Myfxbook performance. Free forever.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. Vortex HFT is informational software — not investment advice. Past performance does not guarantee future results.
Samsung SDS and Samsung Next acquired a combined 2.48 million shares in Dunamu, the operator of the Upbit cryptocurrency exchange, for approximately 560 billion Korean won ($408 million). The transaction was announced on May 28, 2026, following approval from South Korea’s Financial Services Commission. This investment represents a significant strategic move by major Samsung Group subsidiaries into the digital asset infrastructure sector as the country prepares for the implementation of the Virtual Asset User Protection Act in July 2026. The deal values Dunamu at a significant premium to its last funding round.
South Korea is finalizing its first comprehensive regulatory framework for digital assets. The Virtual Asset User Protection Act is scheduled to take effect on July 19, 2026, establishing clear rules for issuance, listing, and trading. This regulatory clarity is a catalyst for institutional participation, which has been limited by legal ambiguity.
The global crypto market is consolidating after a period of volatility, with Bitcoin trading near $68,000. Major financial institutions worldwide are increasingly integrating digital assets into their service offerings. In South Korea, retail interest remains exceptionally high, creating a competitive exchange landscape.
This investment follows a pattern of established Korean conglomerates engaging with the crypto sector. In 2022, KB Kookmin Bank partnered with crypto venture capital firm Hashed to develop digital asset solutions. The Samsung deal is the largest direct investment by a major Korean industrial group into a domestic crypto exchange operator to date, surpassing SK Square's earlier investments in Korbit.
The transaction involves a purchase price of 225,600 Korean won per share. The total investment of 560 billion won ($408 million) grants the Samsung entities a combined stake estimated between 5% and 7% in Dunamu. This valuation implies a significant markup from Dunamu's last private valuation of approximately $8.5 billion in 2023.
Dunamu's Upbit is the dominant exchange in South Korea, consistently accounting for over 80% of the country's crypto trading volume. Its nearest competitor, Bithumb, holds a market share of around 15%. In the first quarter of 2026, Upbit's reported trading volume exceeded $90 billion.
The investment dwarfs other recent corporate moves into the space. For comparison, Mirae Asset Securities' 2025 investment in crypto lender Delio was valued at roughly $50 million. The deal size is equivalent to nearly 10% of the market capitalization of Samsung SDS on the Korea Exchange.
| Metric | Pre-Deal Estimate | Post-Deal Implication |
|---|---|---|
| Dunamu Stake | N/A | 5-7% acquired by Samsung |
| Deal Value | N/A | $408 million |
| Implied Enterprise Value | ~$8.5B (2023) | Significantly higher |
The investment is a direct bullish signal for regulated crypto infrastructure providers. It validates the business model of major exchanges operating within forthcoming legal frameworks. Rival Korean exchanges like Bithumb could see increased investor interest as acquisition targets.
Publicly traded companies with exposure to blockchain technology may experience positive sentiment. Shares of Kosdaq-listed Woori Technology Investment, which holds a stake in Dunamu, rose 4% on the news. The KOSPI-listed Samsung SDS saw muted trading, indicating the market views this as a strategic rather than immediate earnings driver.
A key risk is the potential for stricter-than-anticipated regulations from Korean authorities, which could limit revenue growth for exchanges. The deal positions Samsung to benefit from digital asset adoption while potentially mitigating risk through a non-controlling stake. Trading flow data suggests institutional buyers are accumulating shares in Asian tech and fintech ETFs following the announcement.
The primary catalyst is the implementation of the Virtual Asset User Protection Act on July 19, 2026. Market participants will monitor the specific enforcement rules published by the Financial Services Commission in the weeks prior.
Investors should watch for similar strategic investments from other Korean chaebols, such as LG or Hyundai, into blockchain ventures. The share price of Dunamu's minority shareholders, like Vidente and Woori Technology Investment, will serve as a barometer for market sentiment toward the sector.
The $70,000 level for Bitcoin is a key technical resistance point. A sustained break above this level, coupled with positive regulatory developments, could accelerate institutional adoption globally. The Bank of Korea's stance on central bank digital currencies remains a longer-term factor.
The investment likely signals enhanced operational security and technical infrastructure for Upbit. Samsung's expertise in cybersecurity and large-scale IT systems through Samsung SDS could lead to a more strong exchange platform. Users may see improved service reliability and new product integrations, though fee structures are unlikely to change directly due to the investment.
The $408 million stake is significant but differs from recent US moves. BlackRock's spot Bitcoin ETF holds over $20 billion in assets, representing passive exposure for investors. The Samsung deal is an active strategic investment in the infrastructure layer itself, more akin to Citadel Securities' backing of the EDX Markets exchange, which focuses on institutional trading.
Korean chaebols have taken a cautious but growing interest. In 2018, LG Corp. established a blockchain division for internal R&D. Kakao Corp. extensively developed the Klaytn blockchain platform. The Samsung investment is notable for its scale and direct targeting of an exchange operator, marking a shift from internal development to strategic partnership with an established market leader.
Samsung’s large stake in Dunamu legitimizes crypto infrastructure as a core strategic asset for global tech leaders.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.
Vortex HFT is our free MT4/MT5 Expert Advisor. Verified Myfxbook performance. No subscription. No fees. Trades 24/5.
Trade the assets mentioned in this article
Trade on BybitSponsored
Open a demo account in 30 seconds. No deposit required.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.