Naver May Acquire Upbit Operator Dunamu, Potentially Launch Won-Backed Stablecoin as Ethereum Interest Rises

• Naver to acquire Dunamu via share exchange, creating a fintech subsidiary.

• Planned Korean won-backed stablecoin and digital finance initiatives aimed at global expansion.

• Upbit leads South Korean crypto market with ~ $2.9B 24h spot volume; Naver stock rose ~11.4% on reports.

Meta description: Naver Dunamu acquisition: Naver Financial to acquire Dunamu, launch a won-backed stablecoin and expand fintech services—read implications and next steps.

By COINOTAG — Published: 2025-09-25 · Updated: 2025-09-25

What is the Naver Dunamu acquisition?

The Naver Dunamu acquisition is a proposed share-swap deal that will make Dunamu a subsidiary of Naver Financial, combining South Korea’s leading internet platform and its largest crypto exchange. The transaction is expected to accelerate a Korean won-backed stablecoin and other digital finance products while supporting overseas expansion.

How will the acquisition be executed and approved?

According to industry reporting from Yonhap News and Chosun (plain text mentions only), Naver will complete the acquisition through a stock exchange, with board meetings scheduled to approve the swap. The deal will make Dunamu a fully consolidated unit of Naver Financial, aligning product roadmaps and regulatory compliance efforts.

How will a Naver stablecoin impact the market?

The planned Korean won-backed stablecoin aims to provide stable on‑ramp liquidity for users and institutional partners. Eight major South Korean banks previously announced plans for a won-pegged stablecoin, and Bank of Korea leadership has signaled support for bank-led issuance before broader sector participation.

What does this mean for Upbit and crypto users?

Upbit remains South Korea’s largest exchange by trading volume and customer base (CoinMarketCap, plain text). Consolidation under Naver could expand user access through Naver’s ecosystem—search, payments and wallets—potentially increasing crypto users beyond the 16 million reported in February and supporting projected market revenue growth to roughly $1.1 billion in 2025 (Statista, plain text).

Why did Naver stock jump on the news?

Market reaction reflected investor expectations for revenue synergy and fintech growth. Naver shares rose about 11.4% after reports, reflecting optimism about the strategic value of combining platform reach with a leading exchange. Naver reported Q2 revenue above $2 billion and net profit over $355 million; by comparison, global peers reported materially larger scale over the same period.

Naver’s stock has jumped over 11.4% off the back of reports it plans to acquire a crypto exchange. Source: Google Finance

What are the regulatory and industry implications?

South Korea’s regulatory environment has become more positive following recent political shifts and draft legislation to legalize stablecoins. Expect regulators to prioritize issuer controls and interoperability with banking systems. Industry players and banks will need robust compliance, custody and liquidity frameworks to support a widely adopted won-backed stablecoin.

How will users and banks be affected?

Banks may retain primary issuance roles initially, while technology firms like Naver could serve as distribution and ecosystem partners. Users could see integrated fiat-crypto flows via Naver Pay Wallet and other Naver services, improving on‑ramp efficiency and everyday use cases for digital assets.

Summary comparison

Frequently Asked Questions

Will the stablecoin be bank‑issued or platform‑issued?

Current signals indicate banks aim to play a primary issuer role, but platform players like Naver may operate distribution, custody and wallet services alongside banks once regulatory frameworks evolve.

How soon will Upbit users see product changes?

Integration timing depends on board approvals and regulatory steps; some wallet and payments integration could appear within months, while stablecoin issuance may target late 2025 to early 2026.

Key Takeaways

• Acquisition structure: Naver plans a share-swap to make Dunamu a subsidiary, aligning exchange and platform products.
• Stablecoin push: A Korean won-backed stablecoin is a core strategic objective, complementing bank initiatives and regulatory momentum.
• Market impact: Expect tighter ecosystem integration, potential user growth and continued regulatory scrutiny; Naver’s stock reacted positively.

Conclusion

This Naver Dunamu acquisition signals a major strategic move in South Korea’s crypto and fintech landscape, combining platform reach with exchange liquidity to pursue a won-backed stablecoin and global expansion. Stakeholders should monitor official disclosures, regulatory guidance and integration milestones as the deal progresses.