Naver Financial to Acquire Upbit Operator Dunamu, Plans Won-Backed Stablecoin

Naver Financial, the fintech subsidiary of South Korean tech giant Naver, is set to acquire Dunamu, the operator of the country’s largest cryptocurrency exchange, Upbit.

The transaction will be executed through a share swap, with board approvals anticipated in the near term. Often referred to as the “Google of South Korea,” Naver already holds a dominant position in search and digital payments. The acquisition is expected to strengthen its presence in the financial technology sector and support plans to introduce a won-backed stablecoin.