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    Home»Regulation»Naver Set to Take Over Upbit Operator Dunamu in Stock Exchange Agreement
    Regulation

    Naver Set to Take Over Upbit Operator Dunamu in Stock Exchange Agreement

    Ethan CarterBy Ethan CarterSeptember 25, 2025No Comments3 Mins Read
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    Naver Financial, the fintech branch of South Korea’s tech giant Naver, is reportedly moving forward with plans to acquire Dunamu, which runs the nation’s largest crypto exchange, Upbit, alongside a stablecoin initiative and expansion in the digital finance space.

    Naver will make Dunamu a subsidiary through a share exchange, with board meetings to approve the stock swap scheduled soon, according to South Korean news agencies Yonhap News and Chosun reported on Thursday, citing industry sources.

    Naver and Dunamu did not immediately respond to a request for comment.

    Naver is often referred to as the “Google of South Korea,” and is the leading search engine in the country. The company also offers email hosting, blogs, maps, and a mobile payment service through its subsidiaries.

    Upbit Korea is the largest crypto exchange in South Korea by trading volume and user base, according to CoinMarketCap.

    Naver Eyes Stablecoin Project

    Post-acquisition, Naver Financial is expected to launch a Korean won-backed stablecoin and other digital finance projects in its endeavor for international expansion.

    Chosun, referencing an industry insider, mentioned that this “collaboration will serve as a stepping stone” for Naver “to emerge as a global fintech company.”