South Korea's largest portal site Naver acquires Upbit operator, entering the stablecoin market

According to ChainCatcher news, local South Korean media Chosun reported that Naver's financial subsidiary is advancing a comprehensive equity exchange with Dunamu, the operator of the virtual asset exchange Upbit.

This collaboration will integrate Naver's payment business, which has an annual transaction volume of 80 trillion won, with the advantages of Upbit, the world's fourth-largest virtual asset exchange, to jointly develop the Korean won stablecoin business and plan to expand into overseas markets.