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Naver to acquire Upbit in deal that rocks South Korean crypto industry
Yahoo Finance·2025-09-25 23:57

South Korean internet titan Naver, with 40 million monthly active users, is poised to snap up Dunamu, the operator of crypto exchange platform Upbit, in a move that could redraw the map of the country’s financial landscape. Local news reports on Thursday say Naver will incorporate Dunamu into its business group as a fully owned subsidiary through a comprehensive stock swap. Naver Financial, the company’s fintech arm, will execute the stock swap by issuing shares to acquire Dunamu in full. The stock-only ...