South Korea’s tech giant Naver is moving to take full control of Upbit, the nation’s largest cryptocurrency exchange, through a comprehensive stock swap with Upbit’s parent company, Dunamu.
The deal, structured to make Dunamu a wholly owned subsidiary under Naver Financial, signals a major shift in the country’s digital finance landscape.
Unlike a conventional acquisition, Naver Financial will issue new shares to exchange with stakes currently held by Dunamu shareholders.
Both companies remain legally separate, with the transaction designed to unify operations under Naver’s fintech arm without an immediate capital outlay.
Sources indicate task forces have been set up on both sides to finalise swap ratios and board approvals are expected soon.
Major shareholders in Dunamu include co-founder Song Chi-hyung with 25.5%, Vice Chairman Kim Hyoung-nyon at 13.1%, Kakao Investment at 10.6%, Woori Technology Investment at 7.2%, and Hanwha Investment & Securities at 5.9%.
Naver shares jumped 11.4% to 254,000 won on Thursday following the reports, while Dunamu’s over-the-counter shares fell by a similar margin.
The acquisition positions Naver to expand deeper into digital finance, payments, and crypto services.
Naver Financial currently handles over 80 trillion won in annual transactions, and integrating Upbit’s infrastructure could allow the company to offer a seamless ecosystem linking shopping, payments, and cryptocurrency trading.
Industry observers note this strengthens Naver’s position against rivals such as Kakao in Korea’s competitive fintech market.
Upbit, ranked fourth globally by trading volume, provides a ready-made crypto infrastructure with millions of users.
Source: CoinMarketCap
The companies have been collaborating on a won-pegged stablecoin project, which could accelerate its launch under Naver’s ownership.
Mirae Asset Securities recently estimated that a joint stablecoin initiative could generate up to 300 billion won in annual revenue by 2030.
Beyond domestic expansion, Naver could leverage Upbit’s platform to explore international markets.
By bringing Dunamu under its wing, Naver may create a super app that combines e-commerce, payments, and crypto in a single platform.
The integration could allow users to transition effortlessly from shopping to digital asset management.
Analysts suggest this could inspire other major tech players to consider similar moves, potentially reshaping the country’s fintech ecosystem.
While Naver’s planned acquisition of Upbit demonstrates a bold move into digital finance, significant hurdles remain.
Coinlive notes that integrating a full crypto-finance ecosystem involves challenges such as stabilising a won-pegged stablecoin, navigating evolving regulations, and contending with both domestic and international competitors.
Despite these obstacles, Naver’s extensive consumer base combined with Upbit’s established trading infrastructure provides a rare advantage.
The key challenge will be turning this strategy into sustainable growth while establishing Naver as a global leader in fintech and crypto.
Pendanaan substansial, yang sebagian besar disediakan oleh M&G Investments, diharapkan dapat mendukung GFO-X melalui peluncurannya yang akan datang dan mendorong inovasi di masa depan dalam sektor aset digital yang teregulasi.
AlexDalam diskusi Roundtable baru-baru ini, pembawa acara Rob Nelson dan Peter Chawaga dari TheStreetCrypto menyelidiki tren-tren penting yang mengarahkan pergerakan harga kripto jangka pendek. Hal ini mencakup dana yang diperdagangkan di bursa (ETF) bitcoin spot yang akan segera diluncurkan, pengaruh Elon Musk, adopsi mata uang digital secara nasional, dan hubungan yang berkembang antara teknologi AI dan blockchain.
JoyPengungkapan aplikasi tersebut, melalui pemberitahuan di The Straits Times pada tanggal 7 Desember, menandakan meningkatnya ketegangan di dalam Cake Group.
BrianLaporan terbaru Cardano mengungkapkan pertumbuhan yang kuat dengan 79,7 juta transaksi, pengembangan 1.307 proyek, dan sirkulasi 9,1 juta token asli, menyoroti pengaruhnya yang semakin meluas dalam ekosistem blockchain.
YouQuanSebelumnya, perusahaan telah membekukan dompet yang terkait dengan terorisme dan peperangan di Ukraina dan Israel
AlexSenator AS memperkenalkan Undang-Undang Pencegahan Pendanaan Terorisme, yang bertujuan untuk memerangi peran mata uang kripto dalam mendanai terorisme, yang dipicu oleh serangan Hamas di Israel pada bulan Oktober.
Hui XinEkosistem Endurance yang lebih luas mencakup layanan dompet, penerbit game, teknologi blockchain, dan pengembang, yang berkontribusi pada penciptaan ekosistem yang kuat dan sangat menjanjikan.
BrianPendiri Bitzlato mengaku bersalah karena mengoperasikan pertukaran crypto yang berfungsi sebagai tempat berlindung bagi para penjahat, menyoroti peran penting platform ini dalam transaksi pasar gelap.
YouQuanDecrypt, sebuah perusahaan berita kripto terkemuka, dan Rug Radio, sebuah platform media terdesentralisasi, telah menyiapkan panggung untuk penggabungan yang signifikan, yang menjanjikan untuk membentuk kembali lanskap media terdesentralisasi. Aliansi ini, yang akan membentuk entitas baru dengan nama sandi [REDACTED], bertujuan untuk merevolusi persimpangan teknologi dan penciptaan media, dengan memanfaatkan kekuatan kedua organisasi.
JoyPada tanggal 20 Juni 2023, X-Spot mengajukan permohonan perintah pengadilan ke Pengadilan Tinggi Hong Kong, yang bertujuan untuk memaksa Huobo Global menghentikan pelanggaran merek dagangnya.
Brian