Naver to Absorb Crypto Exchange Upbit in Corporate Restructure
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Naver is taking full control of Upbit. A new report states that Naver Financial will conduct a share swap with Dunamu, Upbit’s parent company, effectively making the crypto exchange a 100% subsidiary.
Unlike a merger, both companies will remain legally separate after the transaction.
Dunamu has declined immediate comment on the report, which also indicates that dedicated teams are working to finalize the deal.
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