South Korea’s fintech and tech giant Naver is reportedly preparing to acquire Dunamu, the operator of Upbit, the fourth-largest crypto exchange by volume.
The deal, expected to be executed via a stock swap, would bring Upbit under the umbrella of Naver Financial, expanding the group’s influence from internet services to crypto.
Strategic Expansion into Crypto and Stablecoins
Naver, often called South Korea’s Google, has built a vast ecosystem spanning search, e-commerce, digital payments, and global content platforms.
Industry sources revealed that Naver plans to launch a Korean won-backed stablecoin following the acquisition, leveraging Dunamu’s blockchain infrastructure and Upbit’s dominant role in crypto trading.
Interestingly, South Korea’s crypto industry has exploded under President Lee Jae-myung, who has advanced pro-crypto legislation, including steps toward stablecoin regulations.
Users, Payments, and Blockchain Infrastructure
Naver boasts over 40 mill
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