Key Takeaways:
- Naver Financial is set to acquire Upbit operator Dunamu, aiming to expand globally and launch a Korean won-backed stablecoin.
- The move aligns with South Korea’s growing institutional interest in stablecoins and a favorable regulatory environment under the new administration.
- Naver’s stock surged 11.4% following the news, reflecting strong investor confidence in the firm’s fintech and crypto ambitions.
Naver Financial, the fintech arm of South Korea’s tech leader Naver, is reportedly preparing to acquire Dunamu, the operator of the country’s top crypto exchange, Upbit.
The deal, expected to be executed via a stock swap, would make Dunamu a subsidiary of Naver.
🚨S. KOREA’S GOOGLE WANTS CRYPTO?
— Coin Bureau (@coinbureau) September 25, 2025
Naver — South Korea’s biggest search engine — is set to acquire Upbit, the country’s largest crypto exchange. Think Google buying Coinbase. pic.twitter.com/h6DDttYy34
Board approvals are anticipated soon, though both companies have declined to comment.
The move reflects Naver’s push deeper into digital finance, with plans to launch a Korean won-backed stablecoin and expand internationally.
Industry observers see the acquisition as a key step in positioning Naver as a global fintech competitor.
The initiative coincides with broader momentum in South Korea’s crypto sector.
Eight major banks recently announced plans to roll out their own stablecoin between late 2025 and early 2026, with regulatory support from the Bank of Korea.
President Lee Jae-myung’s administration has also advanced legislation favorable to digital assets.
Naver has previously tested the waters with its Naver Pay Wallet, launched in 2024.
News of the acquisition lifted Naver’s stock by 11.4%.
Meanwhile, crypto adoption in South Korea continues to grow, with 16 million users and projections reaching 20 million by year-end.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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