Naver, Naver Financial, and Dunamu announced plans to jointly invest 10 trillion won (US$6.8 billion) over five years to develop an ecosystem for AI and Web3 technologies.

The three companies shared the plan at a joint press conference in Seongnam, South Korea, outlining a strategy to expand in digital finance.

Naver Financial, the fintech arm of Naver, recently decided to acquire Dunamu, the operator of the crypto-exchange Upbit, as a wholly owned subsidiary through a share-swap deal.

The investment will focus on integrating AI and Web3 technologies to expand into the global fintech market.

🔗 Source: Yonhap

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