Samsung is making its biggest crypto play yet. According to Yonhap News, three Samsung subsidiaries — Samsung Securities, Samsung SDS, and Samsung Card — agreed on May 28 to buy a combined 4% stake in Dunamu from Kakao, the tech giant behind the popular messaging app KakaoTalk. Dunamu operates Upbit, South Korea's dominant cryptocurrency exchange. The deal is valued at approximately $480 million.
Dual Play: Stablecoins and Security Tokens
The move aligns with Samsung's broader digital asset ambitions. Samsung Securities will focus on security token offerings (STO) and crypto asset services; Samsung SDS plans to integrate its IT, AI, and cloud capabilities with Dunamu's blockchain expertise to upgrade digital finance infrastructure for domestic financial institutions. A Samsung insider stated the investment aims to "secure market leadership through collaboration with Dunamu," particularly as the scope of assets — including a potential Korean won stablecoin — expands.
Kakao Exits, Regulators Watch
The sellers, Kakao, have shifted priorities toward AI as the crypto market downturn persists. Meanwhile, Hana Financial Group has also acquired a stake in Dunamu and is testing stablecoin payments with Circle. However, Upbit carries baggage: it suffered a multi-billion won hack and was found by regulators to have lapses in 700,000 KYC cases. The Samsung deal injects capital but does not erase those compliance risks.