Upbit, South Korea's largest cryptocurrency exchange platform, will become a wholly owned subsidiary of internet giant Naver.
The integration will be carried out through a share swap orchestrated by Naver Financial, which will issue new shares to acquire the stakes of Dunamu's current shareholders.
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This consolidation represents an increasing commitment by one of Korea's leading tech giants to the digital asset sector.
The move comes at a time when the South Korean government is working to establish a clearer regulatory framework for cryptocurrencies, including the development of a stablecoin market pegged to the won.