South Korean internet giant Naver has announced the acquisition of Dunamu Inc., the operator of the prominent cryptocurrency exchange Upbit, in a deal valued at $10.3 billion. This strategic move will see Dunamu become a wholly owned subsidiary of Naver Financial, enhancing Naver's footprint in the cryptocurrency sector. The acquisition involves a share transaction where Naver Financial will issue 2.54 new shares for each Dunamu share. Consequently, Naver's stake in its financial arm will decrease from 70% to 17%. This transaction is set to transform Naver Financial into a money issuer and expedite the development of a won-based stablecoin.