Naver to Buy Upbit Owner Dunamu for $10.3 Billion in Major Crypto Deal
South Korea’s internet giant Naver has announced plans to acquire Dunamu, the company behind the country’s largest cryptocurrency exchange Upbit, in a massive $10.3 billion all-stock deal.
This merger would create one of Asia’s biggest digital finance companies and marks a major shift in how traditional tech firms approach cryptocurrency.
The deal brings together two powerhouse companies: Naver, often called “South Korea’s Google,” and Dunamu, which operates Upbit – the exchange that handles over 80% of all crypto trading in South Korea. If approved, this acquisition could reshape the country’s entire digital finance landscape.
Deal Structure and Timeline
Naver Financial, the company’s fintech division, will issue 87.56…
