South Korean internet conglomerate Naver has agreed to acquire Dunamu, the parent company of the Upbit cryptocurrency exchange, in a deal valued at approximately $10.3 billion. This acquisition marks a significant consolidation within South Korea's digital finance sector, uniting the country's top search portal with its leading digital asset exchange. The all-stock transaction involves a share swap ratio of 2.54 new Naver shares for every 1 Dunamu share, effectively making Dunamu a wholly-owned subsidiary. The strategic rationale behind the merger has become clearer, with reports indicating a heavy focus on the stablecoin sector. By combining Dunamu's robust crypto infrastructure with Naver's extensive payment network and massive user ecosystem, the partnership aims to develop and integrate stablecoin payment solutions for a mass audience. This collaboration signals a major push by South Korean tech and crypto leaders to mainstream digital currency payments within established consumer platforms. [Update 1] Additional details reveal the merger is specifically centered on leveraging Naver's ecosystem to deploy stablecoin payment solutions, expanding the utility of digital currencies in South Korea beyond trading.