According to a report, the South Korea’s Exchange UPBit is about to be acquired by the Naver Internet giant, according to a report.
The agreement would bring Father Dunamu of Upbit under the umbrella of Naver Financial, turning Dunamu into a complete subsidiary of Naver’s financial arm, according to the report.
UPBIT is one of the largest cryptographic exchanges in the cryptographic country, while Naver operates multiple internet -based services in South Korea, including Naver Pay.
It is likely that the agreement is an Action Exchange Agreement with Naver Financial that issues new actions in the exchange of encryption for the current Dunamu actions, the report added.
Naver’s shares jumped more than 7% to the Koreans earned 246,000 ($ 175) after reports arose from the acquired rise.
The agreement reports wake up from the South Korean government, pressing to establish a framework for WON stable, the stable in the country.
Naver and Dunamu were not immediately available to comment.
