Naver Acquires Dunamu for $10.3 Billion

South Korean tech powerhouse, Naver, announces a $10.3 billion all-stock procurement of Dunamu, Upbit’s operator, on November 26th, positioning itself as a clear leader in digital assets.

This acquisition significantly strengthens Naver’s cryptocurrency presence and signals an intent to introduce a Korean won-backed stablecoin, aligning with growing tokenization trends.

Naver’s $10.3B Acquisition of Upbit’s Operator, Dunamu

Naver, a major South Korean tech conglomerate, has announced its acquisition of Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit. The acquisition, valued at $10.3 billion, will take place through an all-stock transaction conducted by Naver Financial. Dunamu will transition into a wholly owned subsidiary of Naver Financial.

Upon completion, this acquisition will position Naver as a leader in the digital asset market. Market observers anticipate the launch of a Korean won stablecoin, bolstering Naver’s ambitious digital asset strategy. Upbit, holding over 80% of the domestic market share, is expected to maintain its dominance under Naver’s leadership.

“The merger between Naver and Dunamu represents a significant shift in the South Korean digital marketplace, reflecting broader trends towards integrating digital currency exchanges with traditional tech giants,” said the Coincu research team.

Bitcoin Updates Amidst Major South Korean Crypto Shakeup

Did you know? The launch of a stablecoin backed by the Korean won could replicate similar ventures seen in other markets, potentially influencing over 80% of South Koreans trading activities on Upbit.

Based on CoinMarketCap data, Bitcoin’s current price stands at $90,095.32, with a market cap of $1.80 trillion and a 24-hour trading volume decreasing by 3.75% to $63.48 billion. Bitcoin experienced a 2.72% increase over the last 24 hours, but there was a 22.03% decline over 30 days as of November 26, 2025.

The Coincu research team highlights that integrating Dunamu opens avenues for technological innovation, particularly around blockchain infrastructure. This move could inspire solutions similar to those between traditional tech and crypto companies, potentially accelerating regulatory adaptations in South Korea.