South Korean internet giant Naver's financial arm, Naver Financial, has entered into an equity swap agreement with Dunamu, the operator of Upbit, to jointly develop a stablecoin business. The agreement, reported on September 25, involves a full equity exchange aimed at expanding Naver's digital finance capabilities, particularly focusing on a stablecoin pegged to the Korean won. This strategic partnership will also explore opportunities in overseas markets. Naver Financial processes an annual payment volume of 8 trillion won, while Upbit stands as South Korea's largest virtual asset exchange and ranks fourth globally. The collaboration is set to enhance Naver's presence in sectors like shopping, finance, and cryptocurrency trading.