Naver plans to acquire Upbit's parent company, Dunamu, in an all-stock deal for $10.3 billion.

PANews reported on November 26th that, according to Bloomberg, South Korean tech giant Naver announced it will acquire Dunamu, the operator of South Korea's largest crypto exchage Upbit, in a $10.3 billion all-stock transaction through its financial subsidiary Naver Financial. Upon completion of the transaction, Dunamu will become a wholly owned subsidiary of Naver Financial, allowing Naver to accelerate its digital asset strategy and promote the issuance of a Korean won stablecoin. Upbit currently holds over 80% of the South Korean market share.