The upcoming Nasdaq itemizing of Coinbase Global Inc. has fueled a frenzy amongst Korea buyers to pile into the nation’s cryptocurrency shares, making a dealer with a minority stake in an area crypto trade the best-performing giant inventory year-to-date.
Hanwha Investment & Securities Co. has gained greater than 210% thus far this 12 months, the most effective efficiency amongst Kospi shares with greater than $1 billion in market worth. The brokerage owns a 6.15% stake in Dunamu, which operates the main South Korean crypto trade Upbit, in line with its regulatory submitting in February.
At the very least for now, Hanwha Funding seems to be Korea’s largest beneficiary of the most recent optimism on digital currencies, fueled by Coinbase’s transfer to straight listing on Nasdaq and speculations that Dunamu could make the same transfer as cryptocurrencies turn out to be extra mainstream.
The Herald Enterprise Newspaper reported on Mar. 30 that Dunamu is exploring a attainable itemizing on the Nasdaq. Later in the identical week, Coinbase, the biggest U.S. cryptocurrency trade, set the date for its buying and selling debut to April 14. Since March, Hanwha Funding’s shares have greater than doubled.
Different shareholders in Dunamu have additionally soared this 12 months. Woori Technology Investment Co. has surged about 140% whereas Kakao Corp. has gained 38%. Every holds about an 8% stake in Dunamu, in line with the crypto trade operator’s newest regulatory submitting.
— to www.bloomberg.com