Naver Stock Up 11% On Tie-Up Talks With Korean Crypto Exchange Giant Dunamu

Group 1 - Naver is in discussions for a share swap with Dunamu, operator of South Korea's largest crypto exchange, Upbit, leading to an 11.4% surge in Naver's shares [1][2] - The potential deal includes collaborations on stablecoins and trading of unlisted securities, with further details to be disclosed in a month [2] - Dunamu, co-founded by Song Chi-hyung in 2012, processes $2.9 billion in digital asset trades daily through Upbit [3] Group 2 - Dunamu was valued at $17 billion in 2021 when Hybe acquired a 2.5% stake for approximately $400 million [4] - The cryptocurrency market is experiencing a resurgence after a downturn in 2022, with Bitcoin reaching a record high of about $124,000 in August [5] - Naver launched its first digital asset wallet within Naver Pay in August, allowing 33 million users to manage digital assets, including NFTs [6]