Naver and Upbit will invest about $6.8 billion in AI and blockchain after the merger

Techub News, according to The Block, South Korean IT giant Naver and Dunamu, the parent company of cryptocurrency exchange Upbit, plan to invest approximately 10 trillion won (approximately $68 billion) over the next five years to build next-generation financial infrastructure integrating artificial intelligence and blockchain technology. Naver Financial, the fintech division of Naver, confirmed on Wednesday that it will acquire Dunamu through a share swap.

Naver CEO Choi Soo-yeon stated that the company sees new opportunities arising from the "critical juncture" of blockchain adoption and the transition to agent AI. Additionally, Naver and Dunamu will also proceed with launching a stablecoin pegged to the Korean won. Specific product details and regulatory arrangements are subject to subsequent disclosures by the parties involved.