CMC News

#Naver Financial Eyes #Upbit Acquisition in Strategic Move

#SouthKorea's dominant internet company is planning a comprehensive share exchange with Dunamu, making the crypto platform operator a wholly owned subsidiary. The transaction would integrate Upbit, the nation's largest digital asset exchange, into Naver's expanding financial services ecosystem.

Both companies have established dedicated task forces to finalize the share swap arrangement. Naver Financial will issue new shares in exchange for existing Dunamu stakeholder positions under the proposed structure.

The deal represents more than a simple acquisition, positioning Naver to launch ambitious digital finance initiatives. Industry sources suggest plans for a Korean won-backed #stablecoin project alongside expanded overseas operations following the transaction's completion.

Founded in 1999, Naver operates South Korea's leading search engine and has grown into one of the country's largest corporations. Its subsidiary Naver Financial already provides extensive services, including mobile payments through Naver Pay, lending, insurance, and investment products.

#Upbit ranks as South Korea's largest cryptocurrency exchange by both trading volume and customer base. The platform processes approximately $2.9 billion in daily spot trading volume, according to market data providers.