#How will Naver Financial impact South Korea's cryptocurrency market?
Naver Financial, the fintech division of South Korea's leading internet portal, is preparing to take full ownership of Dunamu, which operates the Upbit cryptocurrency exchange. This strategic move is set to occur through a share-swap agreement that is on the brink of approval. Once completed, Dunamu will become a wholly owned subsidiary of Naver Financial, positioning Naver at the forefront of a rapidly evolving digital asset landscape in South Korea.
This acquisition is significant not only for Naver but also for the broader cryptocurrency market in South Korea. With direct control over Upbit, which is one of the most prominent platforms for trading cryptocurrencies, Naver is poised to capitalize on the expansions in digital finance.
In July 2025, Upbit formed a strategic alliance with Naver Pay to introduce a KRW-based stablecoin. This initiative emerged in response to favorable regulatory shifts and an increasing push from the government to support stablecoins pegged to the Korean won. The partnership is designed to not only enhance revenue opportunities but also to augment their influence over digital asset regulatory frameworks in the region.
What are Upbit's International Expansion Plans?
Upbit has also made strides on the global stage. In August 2025, it established a partnership with Vietnam's MB Bank, aiming to create the nation's first domestic cryptocurrency exchange. This initiative reflects Upbit's commitment to integrating into international markets while aligning with local financial ecosystems.
Overall, this share-swap acquisition aligns perfectly with Naver's intent to secure a substantial market presence in South Korea's digital finance sector. By controlling a major cryptocurrency exchange that is actively advancing stablecoin projects and international partnerships, Naver is strategically positioning itself to leverage the burgeoning opportunities within the digital finance arena.