The Naver Financial, the Fintech arm of the South Korea Tech Conglomerate Naver, has been reported to have forgotten in advance of a plan to capture Dunamu, which runs the country’s largest crypto exchange, upbit, amid plans for a Stablecoin project and expanding the digital financial sector.
Naver will get Dunamu by making it a subsidiary through a sharing exchange, and board meetings to approve the stock swap will soon take place, South Korea news agencies Yonhap News and Chosun reported On Thursday, cited Industry sources.
Naver and Dunamu did not immediately respond to a request for comment.
Naver is often called “Google of South Korea,” and the country’s leading search engine. The company also has an email -posting service, blog, map and a mobile payment processor through its subsidiaries.
Upbit Korea is the Crypto’s largest exchange in South Korea in terms of trading volume and customer base, According to In coinmarketcap.
Naver eyes stablecoin project
Following the acquisition, Naver Financial will be reported to be launched A Korean won the Stablecoin ProjectAlong with other digital finances initiatives, as part of its bidding to actively explore expanding overseas.
Chosun, citing a source of the industry, has reported that “collaboration will serve as a step -by -step” for Naver “to become a global FinTech company.”
Eight major banks in South Korea who are Reveal Plans in June To launch a stablecoin who has won the country’s money winner in late 2025 or early 2026, while Deputy Governor Ryoo Sangdao has provided support for banks Being primarily giving stablecoins to the country before gradually expanding to other sectors.
The crypto industry in South Korea benefited from a more friendly environment after President Lee Jae-Myung’s election in Junethat since pushing various crypto -related laws, including a Bill to legal the stablecoins.
Naver stock stock is higher in reports
This is not the first internet for the giant internet in the crypto space; It launched a crypto wallet, Naver Pay WalletIn collaboration with the sport dedicated to Blockchain Chiliz in August 2024.
Naver (KRW) stock also has Reaction Positive to reports of the latest crypto adventure, which jumps more than 11.4% to trade at $ 181 (254,00 Korean wins).
In the second quarter, the conglomery reported A income of over $ 2 billion and net income of over $ 355 million, compared To the head of the Google industry $ 96 billion at the same time.
Crypto Exchange users are rising in South Korea
Dunamu has not been publicly exchanged, but CoinMarketCap data lists its exchange upbit as the largest in South Korea and the fourth largest worldwide, with $ 2.9 billion in the 24-hour trading volume in trade. While the largest, binance, May A volume of $ 23.8 billion.
Related: South Korean crypto lending rates by 20%, leveraged loans forbidden
Crypto exchange Users in South Korea exceed 16 million In February after receiving a help from the winner of US President Donald Trump’s election in November, and Haka -Haaka could hit 20 million by the end of the year, outside 51 million people in the country.
Meanwhile, the cryptocurrency market in South Korea is expected to reach a revenue of $ 1.1 billion in 2025, According to On the online data statist platform, and grew to $ 1.3 billion by 2026.
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