Naver Monetary, the fintech arm of South Korea’s largest search engine, is weighing a possible share-swap settlement with Dunamu, the operator of Upbit.
Earlier as we speak, studies from native shops instructed that the talks had already superior into merger territory, however Naver’s regulatory submitting clarified that no binding phrases have been confirmed.
The disclosure, submitted to the Monetary Supervisory Service, acknowledged that Naver and Dunamu are exploring a number of types of cooperation. These embody a possible share alternate, a won-pegged stablecoin venture, and unlisted inventory buying and selling providers.
Nonetheless, Naver’s CFO, Hee Cheol Kim, harassed that concrete particulars will likely be introduced inside a month or as soon as a proper settlement is reached.
Potential advantages for South Korea’s crypto ecosystem
A report from Tiger Analysis means that any settlement between Naver and Dunamu would reshape South Korea’s crypto economic system.
It famous:
“This deal resembles a situation the place Google acquires Coinbase, the main crypto alternate.”
In accordance with the report, the potential acquisition goes past company restructuring, pointing as an alternative to a elementary shift in how digital property may very well be embedded into mainstream finance and know-how.
If Naver integrates Upbit’s blockchain infrastructure, the partnership might fast-track the adoption of digital funds nationwide.
Naver Pay already serves over 30 million customers and handles tens of trillions of gained in annual procuring transactions. Introducing a won-backed stablecoin into this method would lower card processing prices, streamline settlements, and appeal to thousands and thousands of crypto traders straight into Naver’s fee ecosystem.
For Dunamu, the deal would offer each scale and utility. The corporate not too long ago unveiled GIWA Chain, an Optimism-based Layer 2 community designed to develop its function from alternate operator to blockchain infrastructure supplier.
Linking with Naver would open new income streams from stablecoin utilization and transaction charges whereas easing consumer onboarding.
Furthermore, its crypto sign-ups contain time-consuming identification verification processes. By embedding Naver’s cellular ID service, Upbit might simplify the KYC course of for Naver’s 40 million month-to-month customers, reducing boundaries and driving development.
It famous:
“These adjustments would straight impression Upbit’s consumer enlargement. Upbit presently has 10 million cumulative registered customers. When Naver’s 40 million consumer base combines with a simplified registration course of, potential customers can be part of way more simply. This represents a big alternative for Upbit to speed up its consumer development price.”
The potential advantages additionally attain into tradition and capital markets.
Naver Webtoon, which posted $1.35 billion in income in 2024 and maintains partnerships with Disney and Marvel, might harness blockchain to tokenize mental property, increase creator transparency, and launch community-driven token economies.
In parallel, Naver’s possession of Poshmark and its unlisted inventory buying and selling platform opens paths for stablecoin-based escrow programs, tokenized fairness markets, and blockchain-verified advert settlements.
