TechFlow, November 19 — According to The Korea Times, South Korean internet portal giant Naver is expected to confirm its plan to acquire Dunamu during a board meeting next week. Dunamu operates Upbit, South Korea's largest cryptocurrency exchange.
Insiders revealed that Dunamu also plans to hold a board meeting on November 26 to finalize the acquisition details. Naver will conduct a full stock swap through its financial technology subsidiary, Naver Financial, making Dunamu a wholly owned subsidiary as part of efforts to expand its digital finance business.
Following the acquisition, the two companies are expected to launch a won-backed stablecoin project and other digital financial initiatives. Industry estimates suggest the stock swap ratio between Naver and Dunamu could fall between 1:3 and 1:4.
