South Korea's largest portal website Naver's subsidiary is actively pursuing a full stock swap with Upbit's parent company Dunamu

BlockBeats News, September 25th, according to local Korean media Chosun, South Korea's largest portal website Naver's financial subsidiary Naver Financial is actively undergoing a stock-for-stock merger with Upbit's parent company Dunamu. The transaction will involve Naver Financial issuing new shares to exchange for existing shares held by Dunamu shareholders. Through this stock-for-stock merger, Dunamu will become a wholly-owned subsidiary of Naver Financial.

Naver will integrate Dunamu's businesses to achieve full coverage in daily life areas ranging from shopping and finance to cryptocurrency trading.