South Korea-based Naver Financial notified the Financial Supervisory Service (FSS) that it has postponed the major share swap transaction planned with Dunamu, the operator of the crypto exchange Upbit. The company aims to hold the shareholder vote on August 18 and complete the transaction on September 30. This represents approximately a three-month delay compared to the previous end-of-May to end-of-June plans. The deal, announced in September 2025 and valued at 10,3 billion dollars, will make Dunamu a wholly-owned subsidiary of Naver Financial and merge the country’s largest fintech with a crypto platform.
Details of the Naver Financial-Dunamu Share Swap Delay
The transaction is subject to regulatory approvals for major shareholder changes and collaboration reviews. Naver Financial emphasized that it carries the risk of delay or cancellation depending on the course of the approval processes. South Korea’s proposed Digital Asset Framework Act could affect the timeline if it comes into effect in the first half of 2026. This law directly concerns exchanges like Upbit by tightening institutional management of crypto assets.
Dunamu’s 2025 Financial Performance and Crypto Market Impact
Dunamu announced that in 2025, due to a decline in crypto volume, its revenue decreased by %10 (1,56 trillion won), operating profit by %26,7 (869,3 billion won), and net profit by %27,9 (708,9 billion won). Low volatility and volume in the BTC market hit Upbit’s spot trading.
BTC Funding Rate (LHS) vs. Binance Spot Volume (RHS, $ billion). Source: 10x ResearchBTC Technical Analysis: Current Downtrend and Its Impact on Upbit Volume
As of March 30, 2026, BTC price is 67.579,90 USD (+1,07% 24h). RSI 44,98 (neutral), trend downtrend, Supertrend bearish, EMA20 69.025 USD. Low volume explains Dunamu’s revenue loss. Upbit’s BTC spot volume is declining in parallel with the overall market trend. Click for detailed BTC spot analysis.
BTC Support and Resistance Levels Table
| Level | Price (USD) | Score (/100) | Distance (%) | Sources |
|---|---|---|---|---|
| S1 | 62.909,86 | 68 ⭐ | -6,89 | POC, Fibo 0.114, S1 |
| S2 | 67.360,66 | 64 ⭐ | -0,31 | Swing Low, Pivot, S1 |
| R1 | 83.437,33 | 69 ⭐ | +23,49 | Fibo 0.618, HVN 2, Ichimoku |
| R2 | 69.411,68 | 67 ⭐ | +2,73 | Ichimoku S |
The S2 level (67.360 USD) is critical; if broken, Upbit volume may decline further. Check BTC futures for futures.
Risks of the Upbit-Dunamu Merger for BTC Investors
The postponement increases uncertainty in Korean crypto regulations. Experts predict that if the law is approved, Upbit’s institutional entries will accelerate, potentially triggering a BTC rally. In the short term, bearish signals dominate; watch S1.
Long-Term Expectations for the Korean Crypto Market
If the merger is completed, Upbit’s BTC dominance will be strengthened with Naver’s fintech power. However, if the 2026 law is delayed, Dunamu’s revenue loss may continue. Investors should follow BTC detailed analysis.
Source: https://en.coinotag.com/naver-financial-delays-dunamu-upbit-share-swap
