Browsing: Naver Financial

Naver Dunamu investment marks a pivotal moment in South Korea’s tech landscape as the two industry giants join forces with an ambitious $6.8 billion commitment towards revolutionizing the AI and blockchain sectors.This partnership is a strategic move to enhance the digital infrastructure, combining Naver’s innovative capabilities with Dunamu’s expertise in cryptocurrency, particularly through the Upbit cryptocurrency exchange.

In a significant move within the South Korean fintech landscape, Naver Financial is set to acquire Dunamu, the operator of the popular cryptocurrency exchange Upbit, in a groundbreaking $10.3 billion stock-swap deal.This merger is anticipated to solidify Naver’s position at the forefront of the digital asset market, transforming Dunamu into a wholly owned subsidiary by 2026, pending shareholder approval.

The Upbit merger between Dunamu and Naver Financial marks a significant moment in the evolution of South Korea’s financial landscape.As the operator of the country’s largest crypto exchange, Upbit is set to join forces with a prominent payments provider, creating a financial entity valued at roughly $13.8 billion.