South Korea's Upbit to merge under internet giant Naver via stock swap: report

South Korea's leading cryptocurrency exchange Upbit is set to merge with internet giant Naver through a strategic stock swap deal, marking a significant consolidation in the Korean digital asset market. This blockchain industry merger comes as South Korea intensifies regulatory efforts to establish comprehensive cryptocurrency frameworks, particularly targeting won-pegged stablecoins and digital asset compliance.

The Upbit-Naver integration represents a major shift in Korea's crypto landscape, potentially strengthening the exchange's position amid increasing regulatory scrutiny. As one of Asia's largest cryptocurrency trading platforms, Upbit handles billions in daily Bitcoin, Ethereum, and altcoin transactions, making this merger crucial for the broader DeFi ecosystem.

This corporate restructuring occurs while Korean regulators develop clearer guidelines for cryptocurrency operations, stablecoin issuance, and blockchain technology implementation. The stock swap deal could provide Upbit with enhanced technological infrastructure and regulatory compliance capabilities through Naver's established corporate framework.

Market analysts suggest this merger may signal increased institutional adoption of cryptocurrency services in South Korea, potentially impacting Bitcoin prices and regional crypto market dynamics as regulatory clarity improves.