Naver to Buy Upbit Owner Dunamu for $10.3 Billion in Major Crypto Deal
Naver plans to acquire Dunamu, the owner of South Korea's dominant crypto exchange Upbit, for $10.3 billion in a major digital finance consolidation.Summary
Naver, South Korea's tech giant, intends to acquire Dunamu, the operator of the dominant crypto exchange Upbit (which handles over 80% of local trading), for an estimated $10.3 billion via a stock-swap arrangement. The deal, which requires approval from regulatory bodies like the Fair Trade Commission, would create one of Asia's largest digital finance entities.
Dunamu has shown strong financial performance, reporting significant net income growth in 2025, driven by recovering global crypto markets. Strategically, the merger aims to integrate Upbit's crypto expertise with Naver's massive user base and Naver Pay platform to create a "super app" for digital finance.
Crucially, the acquisition is linked to plans for launching a Korean won-backed stablecoin, aligning with a broader, more supportive regulatory environment for digital assets in South Korea, despite Dunamu recently facing a fine for compliance violations.
(Source：Brave New Coin)