South Korean tech giant Naver and Dunamu, the parent company of Upbit, the country's largest cryptocurrency exchange, plan to jointly invest 10 trillion won (about $6.80 billion) over the next five years to build a new generation of financial infrastructure based on AI and blockchain technology.
Naver Financial, the fintech arm of Naver, has confirmed on Wednesday that it will acquire Dunamu through a share swap deal. This is one of the largest collaborations in South Korea's fintech and crypto space, integrating Naver's AI and business capabilities, Naver Financial's payment and financial infrastructure, and Dunamu's digital asset trading and blockchain ecosystem. OhKyung-seok, president of Dunamu, said the two companies will also work together to issue a stablecoin pegged to the Korean won.
Previously, Naver Financial plans to launch a stablecoin wallet service in Busan next month. South Korean President Lee Jae-myung has chosen to promote the establishment of a stablecoin market pegged to the local currency to protect monetary sovereignty.
Naver and Upbit parent Dunamu to jointly invest $6.80 billion in AI and blockchain
2025-11-27 04:24:14
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