PANews reported on November 26th that, according to Bloomberg, South Korean tech giant Naver announced it will acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, in a $10.3 billion all-stock transaction through its financial subsidiary Naver Financial. Upon completion of the transaction, Dunamu will become a wholly owned subsidiary of Naver Financial, allowing Naver to accelerate its digital asset strategy and promote the issuance of a Korean won stablecoin. Upbit currently holds over 80% of the South Korean market share.PANews reported on November 26th that, according to Bloomberg, South Korean tech giant Naver announced it will acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, in a $10.3 billion all-stock transaction through its financial subsidiary Naver Financial. Upon completion of the transaction, Dunamu will become a wholly owned subsidiary of Naver Financial, allowing Naver to accelerate its digital asset strategy and promote the issuance of a Korean won stablecoin. Upbit currently holds over 80% of the South Korean market share.
Naver plans to acquire Upbit's parent company, Dunamu, in an all-stock deal for $10.3 billion.
PANews reported on November 26th that, according to Bloomberg, South Korean tech giant Naver announced it will acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, in a $10.3 billion all-stock transaction through its financial subsidiary Naver Financial. Upon completion of the transaction, Dunamu will become a wholly owned subsidiary of Naver Financial, allowing Naver to accelerate its digital asset strategy and promote the issuance of a Korean won stablecoin. Upbit currently holds over 80% of the South Korean market share.
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