South Korea's Naver to acquire Upbit operator Dumamu via stock swap

**South Korea's Naver Acquires Upbit Crypto Exchange Operator in Major Blockchain Move**

South Korean tech giant Naver is acquiring Dunamu, the operator behind the country's largest cryptocurrency exchange Upbit, through a strategic stock swap agreement. This landmark deal will make Dunamu a wholly owned subsidiary of Naver Financial, creating a powerful fintech ecosystem that integrates crypto trading with traditional digital services.

The acquisition positions both companies to develop a comprehensive super app combining cryptocurrency trading, blockchain services, and digital financial solutions. Upbit, which handles significant Bitcoin and altcoin trading volumes in South Korea's robust crypto market, will benefit from Naver's extensive user base and technological infrastructure.

This merger reflects the growing institutional adoption of cryptocurrency and blockchain technology in Asia's fourth-largest economy. The deal strengthens South Korea's position as a leading crypto hub while potentially expanding DeFi accessibility to millions of users through Naver's platform.

The strategic partnership could revolutionize how South Korean consumers interact with digital assets, creating seamless integration between cryptocurrency trading, traditional banking, and e-commerce services within a single application ecosystem.