Naver plans to acquire Upbit's parent company, Dunamu, in an all-stock deal for $10.3 billion.

According to Bloomberg, South Korean tech giant Naver announced it will acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, in a $10.3 billion all-stock transaction through its financial subsidiary Naver Financial. Upon completion of the transaction, Dunamu will become a wholly owned subsidiary of Naver Financial.