On December 2nd, according to Dlnews, two major South Korean tech giants, Naver and Kakao, will compete fiercely in the field of stablecoins, and both sides plan to issue stablecoins pegged to the Korean won.
Analysts believe Naver's acquisition of Upbit will give it an advantage. Naver plans to combine its e-payment platform Naver Pay with the Upbit exchange platform and Dunamu's Giwachain blockchain network. Naver's stablecoin could be launched on the Giwachain blockchain for payments on its shopping and webcomic platforms, and integrated into video streaming service CHZZK and meta-universe platform Zepeto. Upbit has about 10 million users with an average daily transaction volume of about $1.80 billion.
Kakao, which is targeting K-pop fans through its chat app KakaoTalk (MAU 49 million) and Kakao Bank, is considering acquiring exchange Coinone, according to people familiar with the matter.
Analysis: South Korean tech giants Naver and Kakao to compete in stablecoin space
2025-12-02 08:42:20
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