📚 DVA-SERIES #1: Hana Securities + Upbit
Traditional finance is moving into the crypto infrastructure.
📌 What happened
Hana Securities and Upbit Global signed a memorandum: joint products, crypto infrastructure, and expansion into international markets through Singapore. The key is STO: tokenization of stocks, bonds, and funds. Not trading BTC—it's about moving traditional assets into a tokenized form.
🔎 DVA test
1️⃣ Recruiting? None. Revenue comes from fees, spreads, and charges.
2️⃣ Client? B2C—retail investors. B2B—STO issuers.
3️⃣ Revenue? Trading commissions, custody, issuance fees, and spreads.
4️⃣ Without new capital? If it survives, it will operate on existing assets. This is not a pyramid—it's infrastructure.
5️⃣ Advantage? For whoever controls the infrastructure, not the token.
Signal: Hana Financial Group invested ~ $670 million in Dunamu (the parent company of Upbit). Initially it was capital—now it’s shared infrastructure.
🎯 The main point
This is not a signal to “buy crypto.” It’s a signal to look at a different layer of the market.
While most people watch the charts, big players are building:
infrastructure rules liquidity tokenization access to capital
The question isn’t “what to buy?” but “who is building the system through which capital will move tomorrow?”
#DVA #BTC☀️
Traditional finance is moving into the crypto infrastructure.
📌 What happened
Hana Securities and Upbit Global signed a memorandum: joint products, crypto infrastructure, and expansion into international markets through Singapore. The key is STO: tokenization of stocks, bonds, and funds. Not trading BTC—it's about moving traditional assets into a tokenized form.
🔎 DVA test
1️⃣ Recruiting? None. Revenue comes from fees, spreads, and charges.
2️⃣ Client? B2C—retail investors. B2B—STO issuers.
3️⃣ Revenue? Trading commissions, custody, issuance fees, and spreads.
4️⃣ Without new capital? If it survives, it will operate on existing assets. This is not a pyramid—it's infrastructure.
5️⃣ Advantage? For whoever controls the infrastructure, not the token.
Signal: Hana Financial Group invested ~ $670 million in Dunamu (the parent company of Upbit). Initially it was capital—now it’s shared infrastructure.
🎯 The main point
This is not a signal to “buy crypto.” It’s a signal to look at a different layer of the market.
While most people watch the charts, big players are building:
infrastructure rules liquidity tokenization access to capital
The question isn’t “what to buy?” but “who is building the system through which capital will move tomorrow?”
#DVA #BTC☀️
