XRP Tops on Upbit as South Korea’s “Big 4” to Acquire $670M Stake in Dunamu
The post XRP Tops on Upbit as South Korea’s “Big 4” to Acquire $670M Stake in Dunamu appeared on BitcoinEthereumNews.com. Hana Financial Group on Friday said it will acquire a 1 trillion won ($670 million) stake in Dunamu, operator of South Korea’s largest crypto exchange Upbit, through its subsidiary Hana Bank, South Korea’s “Big 4” bank. XRP surpasses BTC in trading volume on XRP Upbit amid the major announcement. South Korea’s Hana Bank to Buy $670 Million Stake in Upbit Operator Dunamu South Korea’s Hana Financial Group on May 15 decided to buy a stake in the country’s top crypto exchange operator Dunamu for 1 trillion won ($670 million). It marks the largest-ever investment by a bank into a crypto exchange operator. On the same day, Hana Bank’s board of directors resolved to acquire 2,284,000 shares of Dunamu held by Kakao Investment. With the acquisition, Hana Bank will secure its position as the fourth-largest shareholder with a 6.55% stake in Dunamu. “This equity investment is