Naver Corp. shares surged up to 11% following reports that its fintech arm is seeking to acquire Dunamu, the operator of South Korea’s largest crypto exchange Upbit.

Naver, a major South Korean internet company, said discussions cover various areas beyond stablecoins and unlisted-share trading, but no agreement has been reached.

Dunamu said it is discussing cooperation with Naver but emphasized that nothing has been finalized.

This follows a local media report suggesting a comprehensive share swap that would make Dunamu a wholly owned subsidiary of Naver Financial, though neither company has confirmed the details.

🔗 Source: Bloomberg

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