Naver Monetary, the fintech arm of South Korea’s largest search engine, is weighing a possible share-swap settlement with Dunamu, the operator of Upbit.
Earlier right now, reviews from native retailers advised that the talks had already superior into merger territory, however Naver’s regulatory submitting clarified that no binding phrases have been confirmed.
The disclosure, submitted to the Monetary Supervisory Service, acknowledged that Naver and Dunamu are exploring a number of types of cooperation. These embrace a possible share alternate, a won-pegged stablecoin venture, and unlisted inventory buying and selling companies.
Nonetheless, Naver’s CFO, Hee Cheol Kim, harassed that concrete particulars shall be introduced inside a month or as soon as a proper settlement is reached.
Potential advantages for South Korea’s crypto ecosystem
A report from Tiger Analysis means that any settlement between Naver and Dunamu would reshape South Korea’s crypto financial system.
It famous:
“This deal resembles a situation the place Google acquires Coinbase, the main crypto alternate.”
In accordance with the report, the potential acquisition goes past company restructuring, pointing as an alternative to a basic shift in how digital belongings could possibly be embedded into mainstream finance and expertise.
If Naver integrates Upbit’s blockchain infrastructure, the partnership may fast-track the adoption of digital funds nationwide.
Naver Pay already serves over 30 million customers and handles tens of trillions of received in annual purchasing transactions. Introducing a won-backed stablecoin into this technique would minimize card processing prices, streamline settlements, and entice thousands and thousands of crypto traders immediately into Naver’s cost ecosystem.
For Dunamu, the deal would supply each scale and utility. The corporate not too long ago unveiled GIWA Chain, an Optimism-based Layer 2 community designed to increase its function from alternate operator to blockchain infrastructure supplier.
Linking with Naver would open new income streams from stablecoin utilization and transaction charges whereas easing person onboarding.
Furthermore, its crypto sign-ups contain time-consuming id verification processes. By embedding Naver’s cell ID service, Upbit may simplify the KYC course of for Naver’s 40 million month-to-month customers, reducing limitations and driving development.
It famous:
“These modifications would immediately impression Upbit’s person enlargement. Upbit at present has 10 million cumulative registered customers. When Naver’s 40 million person base combines with a simplified registration course of, potential customers can be a part of way more simply. This represents a big alternative for Upbit to speed up its person development fee.”
The potential advantages additionally attain into tradition and capital markets.
Naver Webtoon, which posted $1.35 billion in income in 2024 and maintains partnerships with Disney and Marvel, may harness blockchain to tokenize mental property, increase creator transparency, and launch community-driven token economies.
In parallel, Naver’s possession of Poshmark and its unlisted inventory buying and selling platform opens paths for stablecoin-based escrow programs, tokenized fairness markets, and blockchain-verified advert settlements.