Upbit and Naver to Invest $7B in AI-Blockchain After Mega Merger

TLDR

• Naver Financial has officially acquired Dunamu, the parent company of Upbit, through a share-swap deal.
• The merged companies plan to invest $7 billion over five years in AI and blockchain-based financial infrastructure.
• Executives from Naver, Naver Financial, and Dunamu presented their joint vision during a press conference in Seoul.
• The investment will support the development of a global financial system powered by blockchain and artificial intelligence.
• Naver Financial is preparing to launch a stablecoin wallet for a local pilot project in Busan next month.

South Korea’s Naver Financial has confirmed a share-swap acquisition of Dunamu, the parent company of Upbit. Together, they will invest 10 trillion Korean won ($6.8 billion) over five years. They aim to develop advanced financial infrastructure using AI and blockchain.

Naver Finalizes Dunamu Acquisition

Naver Financial formally announced the merger on Wednesday via a share-swap deal with Dunamu. Dunamu owns Upbit, South Korea’s largest cryptocurrency exchange. The merger brings together fintech, blockchain, and AI capabilities.

Executives from Naver, Naver Financial, and Dunamu held a joint press event in Seoul on Thursday. They outlined their post-merger plans and strategic roadmap. Naver CEO Choi Soo-yeon said the companies are focused on the AI-blockchain intersection.

“We see new opportunity at a critical juncture of agentic AI and blockchain popularization,” Choi stated during the briefing. She confirmed the merger strengthens all three firms. Dunamu President Song Chi-hyung added the group will create a new global finance system.

Upbit, Naver Plan $6.8B Investment in Next-Gen Financial System

Upbit’s parent Dunamu and Naver aim to spend $6.8 billion over five years. Their goal is to develop future-ready financial infrastructure. The companies will focus on merging AI automation with blockchain stability.

Naver brings advanced AI and commerce systems to the joint platform. Upbit contributes its blockchain network and crypto trading expertise. Naver Financial will integrate payments and digital finance tools into the ecosystem.

“We will cover payments, settlements and broader finance infrastructure,” Song said. He emphasized that this joint system will operate globally. The investment will fund both R&D and infrastructure development.

Naver and Upbit also target international applications. They plan to expand services beyond the Korean market. Executives confirmed the merged entity will pursue global financial integration.

Korean Won Stablecoin Also in Development

Dunamu CEO Oh Kyung-seok confirmed the firms are building a won-pegged stablecoin. This stablecoin will align with South Korea’s monetary strategy. Naver Financial is launching a pilot stablecoin wallet next month in Busan.

The government supports local stablecoin efforts to counter U.S. dollar dominance. President Lee Jae Myung prioritizes digital won solutions. However, legislation around this sector remains under debate.

Kakao, a rival to Naver, is also working on a won-stablecoin. It has started hiring blockchain developers for this purpose. The competition for stablecoin dominance is accelerating.

Upbit and Naver are pushing forward despite legal hurdles. The Bank of Korea insists only licensed banks issue won-stablecoins. Lawmakers continue to discuss the regulatory foundation.

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