The attention-grabbing acquisition

Sàn giao dịch Upbit sắp về tay chủ mới Naver? Ảnh: Bloomberg

– Naver , a major web portal in South Korea, is said to be acquiringUpbit- the country’s largest cryptocurrency exchange through its parent company Dunamu.

– If successful, this is not only a deal to acquire a crypto exchange, but could also pave the way for the first financial – blockchain “super app” in the land of kimchi, combining the power of Naver Pay, Upbit and stablecoins pegged to the won.KRW1just debuted on Avalanche.

– With a dominant position in one of Asia’s most dynamic crypto markets, Upbit has long been a pillar of the digital asset ecosystem in South Korea.

Naver moves into crypto

– The giant, dubbed the “Google of Korea”, is famous for its internet services, including the Naver Pay payment system. The acquisition of Upbit will take Naver deeper into the digital finance sector, while expanding into blockchain and crypto – key pieces in the digital asset era.

– According to reports, the deal is expected to be implemented in the form of a stock swap . Specifically, Naver Financial will issue new shares in exchange for existing shares of Dunamu, turning Dunamu into a 100% subsidiary of Naver Financial.

– This means that Dunamu shareholders (including Chairman Song Chi-hyung and many large funds such as Kakao Investment, Hanwha Investment & Securities) will also become shareholders of Naver Financial.

– Immediately after the news leaked, Naver’s stock price increased by more than 11.6% and is trading around 255,000 won (~181 USD).

Naver stock price movements in the most recent day, image captured by Google Finance at 12:45 PM on September 25, 2025

– South Korea has long been considered the most vibrant crypto market in Asia, but at the same time is also among the most regulated countries.strict management. The most recent moveTighten crypto lending services, banning leverage and capping interest rates at 20%. In addition, the South Korean National Assembly is alsopromote legal frameworkcomprehensive for digital assets, of which won-pegged stablecoins are a focus.

Expert opinion

– Experts say this deal is not just a simple M&A but also opens up the prospect of forming a super app:

Naver Pay connects directly with Upbit, creating a seamless link between payments, trading, and digital asset storage.

Won-pegged stablecoins can be widely deployed thanks to Naver’s user network and Dunamu’s blockchain infrastructure.

Dunamu is still in developmentGIWA Chain- Optimistic Rollup based layer-2 blockchain, with GIWA Wallet integrating KYC/AML.

– Up to now, neither Naver nor Dunamu has made any official confirmation. Naver said it is considering many cooperation directions, while Dunamu confirmed that there have been discussions but no agreement has been reached.