Naver's $10 bln deal offers crypto compass
By Hudson LockettThe purchase of South Korea’s top digital asset exchange should boost founder Lee Hae-jin’s drive to revitalise the $28 bln web group. Making paying with and trading in e-currencies seamless for Naver's mobile wallet users is logical and hints at a path forward for global peers.Full view will be published shortly.Follow Hudson Lockett on Bluesky and X.CONTEXT NEWSSouth Korea's Naver said in an exchange filing dated November 26 that it has agreed to acquire privately-held crypto group Dunamu in an all-stock deal valued at about $10 billion, pending shareholder approvals. Naver’s fintech subsidiary plans to issue 2.54 shares for every one share in the operator of Upbit, South Korea's largest digital asset exchange. The two had previously announced a collaboration on a Korean won stablecoin project in July.