The exchange of Upbit South Korean crypto is about to be acquired by the Internet Naver giant, according to a report.
The agreement would bring the parent of Upbit Dunamu under the aegis of Naver Financial, making Dunamu a complete subsidiary of the Naver financial branch, according to the report.
Upbit is one of the greatest exchanges of crypto in the friendly country of cryptography, while Naver operates several Internet services in South Korea, including Naver Pay.
The agreement should be a stock exchange agreement with NAVER Financial Amazing new actions in the Crypto Exchange for Dunamu’s current actions, added the report.
Naver’s shares increased by more than 7% in Korean won 246,000 ($ 175) after the publication of Upbit acquisition reports.
The reports of the agreement arise in the awakening of the South Korean government which pushes to establish a framework for the stablecoins won in the country.
Naver and Dunamu were not immediately available to comment.
