Naver to Acquire Upbit Operator Dunamu, Raising Stakes Against Kakao in South Korea
- South Korea’s digital financial system has been redesigned via the acquisition of Upbit by Naver.
- Naver first entered the web3 space by launching its crypto wallet in collaboration with Chiliz in 2024.
- Naver still faces stiff competition from Kakao via its Klaytn blockchain.
Naver Corp. (KRX: 035420), South Korea’s leading search and e-commerce platform, is moving to acquire Dunamu, the parent company of the Upbit exchange, through a comprehensive stock swap. Once completed, Upbit would operate as a subsidiary under Naver. Both companies have already formed a task force to manage the integration.
Following the announcement, Naver shares surged over 10% on Thursday to trade at about 253,000 Korean dollars ($180.5).
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Read The Full Article Naver to Acquire Upbit Operator Dunamu, Raising Stakes Against Kakao in South Korea On Coin Edition.
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Naver to Acquire Upbit Operator Dunamu, Raising Stakes Against Kakao in South Korea
- South Korea’s digital financial system has been redesigned via the acquisition of Upbit by Naver.
- Naver first entered the web3 space by launching its crypto wallet in collaboration with Chiliz in 2024.
- Naver still faces stiff competition from Kakao via its Klaytn blockchain.
Naver Corp. (KRX: 035420), South Korea’s leading search and e-commerce platform, is moving to acquire Dunamu, the parent company of the Upbit exchange, through a comprehensive stock swap. Once completed, Upbit would operate as a subsidiary under Naver. Both companies have already formed a task force to manage the integration.
Following the announcement, Naver shares surged over 10% on Thursday to trade at about 253,000 Korean dollars ($180.5).
Related: South Korea Rolls Out the Red Carpet for Crypto Startups; And the Tax Man
Naver Strengthens its Crypto Portfolio
This is not Naver�…
Read The Full Article Naver to Acquire Upbit Operator Dunamu, Raising Stakes Against Kakao in South Korea On Coin Edition.
Read More
AI Predicts If Cardano Network Upgrades Can Push ADA Price Past $3 By 2027