Samsung Securities will spend approximately $204 million to acquire a 2% stake in Upbit operator Dunamu.

CoinFeed reported on May 28 that, according to Yonhap News Agency, Samsung Securities passed a board resolution to acquire a 2% stake in Dunamu, approximately 697,000 shares, for 306.3 billion won (approximately US$204 million), at a price of approximately 439,000 won per share. The sellers include Kakao Investment, Kakao Ventures, Kakao Youth Entrepreneurship Fund, and KIF-Kakao Woori Bank Technology Financial Investment Fund. Based on this, Dunamu's overall valuation is estimated at approximately 15.3 trillion won (approximately US$10.2 billion). Samsung Securities stated that this investment aims to enhance the competitiveness of its digital asset business and expand synergies. Previously, Hanwha Investment & Securities also acquired Dunamu shares held by Kakao Investment at the same valuation.