South Korean digital asset exchanges are accelerating efforts to diversify revenue as trading values fall and profitability weakens. The five biggest won-market exchanges logged $27.8 billion in trading from May 1 to 17, down from earlier months. Dunamu and Bithumb reported sharp first-quarter declines in revenue and operating profit, with trading fees accounting for nearly all sales. Exchanges are expanding partnerships, overseas ventures and Web3 infrastructure, while facing regulatory uncertainty.

Hana Financial Group is making a strategic equity investment of about 1 trillion won in Dunamu, operator of South Korea\'s largest digital asset exchange Upbit. Hana Financial said Hana Bank will acquire a 6.55 percent stake for about 1.0033 trillion won from Kakao Investment, becoming Dunamu\'s fourth-largest shareholder. The two sides also signed an MOU to cooperate on blockchain-based remittances, a won stablecoin ecosystem, global business and digital asset wealth management services.