South Korea’s $13.8B Fintech Consolidation Connects Conventional Finance with Crypto, Aiming for Worldwide Leadership

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South Korea’s $13.8B Fintech Consolidation Connects Conventional Finance with Crypto, Aiming for Worldwide Leadership

Bitget-RWA2025/11/25 03:20

By:Bitget-RWA

- South Korea's Dunamu merges with Naver to form a $13.8B fintech entity, combining blockchain and payments expertise for global crypto expansion. - The stock-swap deal reduces Naver's ownership to 17% while retaining operational control through voting rights, addressing shareholder concerns. - Regulators assess the merger's compliance with anti-money laundering rules and market competition risks amid South Korea's evolving crypto regulations. - A potential 2026 Nasdaq IPO could capitalize on strong earnin

Dunamu, the parent company of South Korea’s Upbit, is gearing up for a Nasdaq debut after its upcoming merger with tech powerhouse Naver. This move is set to help the firm access U.S. capital markets and strengthen its leadership in the digital asset industry. The merger,

anticipated to close within the week

, will result in a fintech giant valued at $13.8 billion by merging Dunamu’s blockchain capabilities with Naver Financial’s payment systems,

as reported by Decrypt and Yahoo Finance

. Operating under the Naver brand, the new company seeks to connect conventional finance with the crypto sector, and could reach a valuation as high as $34.5 billion if

it attracts significant global investment

The deal will be executed through a stock swap,

where Dunamu shareholders will trade their shares for Naver Financial stock

at a ratio of 1:3.3–3.4. This ratio reflects Dunamu’s much stronger financial results—its 2024 operating profit was nearly ten times that of Naver Financial—and

helps address concerns from minority investors

to facilitate a seamless merger. Naver’s stake will decrease from 69% to 17%, but it will maintain management control by securing a majority of Dunamu’s voting rights, in line with fair trade laws

according to BeInCrypto

This strategic step coincides with South Korea’s changing regulatory environment, where

new regulations for digital assets and stablecoins

are being drafted.

South Korea’s $13.8B Fintech Consolidation Connects Conventional Finance with Crypto, Aiming for Worldwide Leadership image 0

Dunamu, which has already been fined $25.7 million for violating anti-money laundering rules,

is under increased regulatory scrutiny

as authorities examine the merger for compliance and competition concerns. Analysts such as Peter Chung from Presto Research

point out that both companies’ ambitions

in the stablecoin market are driving the deal, with Dunamu’s GIWA blockchain and Naver Pay set to lead the field.

The combined company could pursue a Nasdaq IPO as soon as 2026, leveraging its robust financials and Naver’s international reputation. Dunamu’s

net profit in the third quarter of 2025 jumped 300%

year-over-year to $165 million, boosting investor optimism. This timing coincides with a surge in crypto-related IPOs, as

companies like Circle and Kraken have recently listed

, and Bithumb is also fast-tracking its own public offering.

There are still regulatory obstacles, with

the Financial Supervisory Service and Fair Trade Commission

reviewing the merger’s implications for competition and financial stability. Despite these hurdles, the deal highlights South Korea’s efforts to bring cryptocurrency into the mainstream financial system,

as Naver and Dunamu set their sights on global competition

with leading tech and fintech firms.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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