Hana Financial Group has made a strategic equity investment of about 1 trillion won in Dunamu, South Korea's largest virtual asset platform, stepping up its push into the digital asset market.

On May 15, Hana Financial said Hana Bank, a key affiliate, will acquire a 6.55 percent stake in Dunamu, or 2,284,000 shares, for about 1.0033 trillion won. The seller is Kakao Investment. The deal will make Hana Bank Dunamu's fourth-largest shareholder.

Dunamu operates Upbit, South Korea's largest digital asset exchange. Hana Financial said the investment is aimed at responding to changes in the global financial environment being reshaped around blockchain and stablecoins and at securing leadership in a future financial ecosystem based on digital assets.

The two companies also signed a strategic memorandum of understanding on the day to build a future innovation model linking finance and digital assets.

They will first cooperate to advance blockchain-based foreign currency remittance services. The two sides have jointly developed a blockchain-based overseas remittance service since late last year, and in February completed a proof of concept to implement an existing SWIFT-based foreign currency remittance service on Dunamu's own blockchain, called Giwa Chain. In April, they signed a tripartite agreement with POSCO International and laid the groundwork for demonstration. Hana Financial plans to build a real-time transaction and settlement system and strengthen competitiveness in the foreign exchange market through this effort.

They will also pursue cooperation to build a won stablecoin ecosystem. The two sides agreed to jointly build infrastructure needed for the entire process of issuing, distributing, using and recycling stablecoins, and to jointly identify new business opportunities to respond to changes in the digital asset investment market.

They will expand cooperation in global business as well. The two sides plan to jointly pursue new business development, investment and partnerships, and development of services linked to Giwa Chain in overseas digital asset markets by combining Hana Financial's global network and Dunamu's blockchain technology.

Hana Financial will also pursue comprehensive wealth management services based on digital assets through collaboration between Upbit and the group's digital platforms. Based on joint research experience in areas including AML and KYC, it plans to link its existing wealth management capabilities in funds, pensions and trusts with digital asset services.

Hana Financial Chairman Ham Young-joo (함영주) said the move was a decision to accelerate financial innovation based on digital assets. He said the group would focus its capabilities to lead the creation of a K-blockchain ecosystem and help South Korea's digital asset industry make a leap to a globally leading level.