Upbit Control Secured by Naver Financial

Naver Financial to Acquire Full Control of Upbit via Share-Swap

• Naver Financial is set to acquire full control of Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit, through a share-swap deal.
• This acquisition will make Dunamu a wholly owned subsidiary of Naver Financial, positioning Naver as the direct owner of Upbit.
• In July 2025, Upbit and Naver Pay formed a strategic alliance to launch a KRW-based stablecoin.
• The partnership aimed to enhance profitability and influence digital asset policies in South Korea.
• Upbit expanded internationally by partnering with Vietnam’s MB Bank in August 2025 to establish the country’s first domestic crypto exchange.

Naver Financial is poised to strengthen its position in South Korea’s digital finance sector by acquiring Dunamu and directly owning the Upbit cryptocurrency exchange. This move aligns with their strategic initiatives, including launching a KRW-based stablecoin and expanding into international markets.