Overview

• Reports from Crypto Briefing and local outlet Dong-A Ilbo say Naver Financial is preparing a comprehensive share-swap that would give it full control of Dunamu, which operates Upbit.
• Naver said in a regulatory filing that it is exploring collaboration with Dunamu, including a potential stock swap, stablecoin efforts and non-listed stock trading, with an update promised within a month if plans firm up.
• Dunamu issued a similar statement describing a partnership with Naver while not confirming a takeover or timeline.
• Dong-A Ilbo reported Dunamu plans to notify shareholders of the proposed move and that both firms have formed internal task forces to advance the talks.
• If approved, the structure would make Dunamu a wholly owned subsidiary of Naver Financial, positioning Naver as the direct owner of South Korea’s largest crypto exchange and aligning with prior moves such as Upbit’s KRW stablecoin tie-up with Naver Pay and its Vietnam partnership with MB Bank.