Naver Acquires Dunamu for $10.3 Billion, Entering Digital Assets Market

South Korean tech giant Naver has acquired Dunamu, the operator of Upbit, South Korea’s largest cryptocurrency exchange, in a landmark deal worth $10.3 billion. This all-stock acquisition positions Naver as a major player in the digital asset market and signals an ambitious expansion into stablecoins. Upbit, with over 80% of the domestic market share, is expected to continue dominating under Naver’s leadership. The acquisition allows Naver to integrate its digital asset strategy directly with Upbit’s existing infrastructure, potentially leading to a launch of a Korean won-backed stablecoin in the near future.