Danal Completes Block Deal of Treasury Shares with Weiss Asset Management, Reaffirming Its Value as a Leading Stablecoin Company

Danal, a company specializing in integrated payment business, announced on December 11 that it has successfully completed a block deal of its treasury shares with Weiss Asset Management, a Boston-based asset management firm. Through this transaction, Weiss Asset Management will become Danal's second-largest institutional investor and plans to maintain a long-term cooperative relationship.

Weiss Asset Management is a global asset manager with a strategic focus on "discovering undervalued assets" and "securing key infrastructure in emerging industries." As of this year, its total assets under management (AUM) amount to approximately 4 billion dollars (about 6 trillion won). Since its initial entry into the Korean market in 2000, the firm has significantly expanded its investment scale since 2013, strengthening its portfolio across Asia.

Weiss Asset Management has also been paying close attention to the long-term growth potential of the crypto and Web3 industries, which have recently gained significant attention, and has been making proactive investments in key companies in these sectors. Notable examples include Coinbase, the largest crypto exchange in the United States; Circle, a global stablecoin issuer; Canaan Creative, a crypto hardware company listed on the NASDAQ; Strategy, a global Bitcoin management firm; and Metaplanet, a Japanese Web3 specialist. Against this backdrop, the company explained that its high evaluation of Danal’s growth potential-given Danal’s leading position in the domestic and international stablecoin markets-led to the block deal.

A Danal representative stated, "Weiss Asset Management is more than just a financial investor; it is a key player with the deepest understanding of the global crypto ecosystem and a leader in market trends. This block deal marks an opportunity for Danal to be re-evaluated as a global digital asset infrastructure company and serves as a starting point for strengthening the collaborative partnership between the two companies."