South Korean brokerage giant Hanwha Investment and Securities will purchase 6.15% of Dunamu, an operator of crypto exchange Upbit, for $52.2 million, The Korea Herald has learned. The investment will reportedly be made on February 22.
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A Dunamu spokesperson told the media, that the company is now focusing on developing more digital services.
"Since Dunamu already has a high-skilled innovative finance service, we decided to cooperate with the financial technology firm," the spokesperson added.
The acquisition of the shares is "a mid- to long-term investment" for the broker, the company's representative emphasized. Previously, Upbit announced the expansion of its services in Thailand with a new branch.
The crypto trading platform has entered the Thai market at an opportune time, as Bitkub, the country's largest exchange, was blocked by the country's regulators.
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