Derived from Coinrise, South Korea’s Naver is set to confirm its plan to acquire Dunamu, operator of the country’s largest cryptocurrency exchange, Upbit. The acquisition, to be finalized through a stock swap, aims to strengthen Naver’s presence in digital finance and blockchain technology. Dunamu will hold a board meeting on November 26 to finalize the deal, which could reshape the Korean digital finance landscape. The move also includes plans for a Korean won-backed stablecoin and new digital finance initiatives. Naver’s stock surged over 11% following the announcement. Meanwhile, Dunamu is currently in a legal dispute with South Korean regulators over a business suspension order issued to Upbit.
Naver to Finalize Acquisition of Upbit Operator Dunamu
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