Samsung is taking a big step into the world of cryptocurrency and digital finance. Three Samsung companies, including Samsung Securities, Samsung SDS and Samsung Card, have decided to invest in Dunamu, the company that runs Upbit, South Korea’s biggest cryptocurrency exchange.

The three companies will together buy a 4 percent stake in Dunamu for about $408 million. The shares will be purchased from a Kakao affiliate. Samsung Securities will own 2 percent, while Samsung SDS and Samsung Card will each own 1 percent.

This investment shows that Samsung believes digital money and blockchain technology will become more important in the future. The companies want to explore new business opportunities connected to crypto, online payments and digital financial services.

Samsung Securities said it wants to work with Dunamu on virtual asset services and token securities. Token securities are digital versions of real-world financial assets.

Moreover, Samsung SDS, which handles technology and IT services, plans to use its knowledge in AI, cloud computing and cybersecurity together with Dunamu’s blockchain technology. The aim is to create better and more advanced financial systems for banks and other companies.

Samsung Card is also interested in building payment systems using digital assets. It may connect these services with Monimo, Samsung Financial Networks’ financial app, mainly if South Korea launches stablecoins linked to the Korean won.

This investment will help the companies grow stronger in the fast-growing digital finance market. They believe working closely with Dunamu will give them a leading position in the future of blockchain and digital payments.

Dunamu also welcomed the partnership and said it plans to cooperate with Samsung companies on blockchain financial products, payment systems and AI-powered services. The deal shows that major companies are becoming more confident about the future of cryptocurrency and blockchain technology.

The post Samsung to invest in Korea’s biggest crypto exchange in $408 million deal appeared first on Sammy Fans.