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.
