PANews reported on November 19th that, according to the Korea Times, sources say Naver, South Korea's largest portal site, is expected to confirm its acquisition plan for Dunamu, the operator of Upbit, South Korea's largest cryptocurrency exchange, at its board meeting next week. Sources familiar with the matter revealed that Dunamu plans to hold a board meeting on November 26th to confirm the specific details of the acquisition plan.

Naver reportedly plans to pursue a full share swap through its fintech subsidiary Naver Financial, making Dunamu a wholly-owned subsidiary, in an effort to expand its business footprint in the digital finance sector.