South Korean internet giant Naver has reached a share swap agreement with Upbit's parent company to jointly lay out their stablecoin business.

PANews September 25 news, according to Chosun reports, South Korean search engine giant Naver's subsidiary Naver Financial has reached a comprehensive equity swap agreement with Dunamu, the operator of the virtual asset exchange Upbit. The two parties will complete the acquisition through equity replacement. Naver will leverage this to布局 the digital financial field, focusing on promoting stablecoin business linked to the Korean won, and plans to jointly expand overseas markets. Naver Financial's annual payment scale reaches 80 trillion won, while Upbit is the largest virtual asset exchange in South Korea and the fourth largest globally. This cooperation will promote Naver's coverage of shopping, finance, and crypto asset trading in various life scenarios.