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According to a report by the Korean News Agency, the stock exchange transaction between Upbit's parent company Dunamu and NAVER Pay, a subsidiary of South Korean internet giant NAVER, may have uncertainties. Data disclosed by the Legislative Investigation Office of the Korean National Assembly indicates that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, necessitating an adjustment of the governance structure. The Korean Fair Trade Act stipulates that a holding company's shareholding ratio in listed subsidiaries must not be less than 30%, and for non-listed subsidiaries, it must not be less than 50%; for venture capital holding companies, it is 20%. Additionally, the second phase of discussions on South Korean virtual asset legislation also involves setting a shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

According to a report by Yonhap News Agency, the stock swap transaction between Upbit's parent company Dunamu and a subsidiary of South Korean internet giant NAVER may have uncertainties. Data disclosed by the Legislative Investigation Office of the National Assembly of Korea shows that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, thus requiring adjustments to the governance structure. The Fair Trade Act of Korea stipulates that a holding company must hold at least 30% of the shares in listed subsidiaries and at least 50% in non-listed subsidiaries; for venture capital holding companies, the requirement is 20%. The second phase of discussions on South Korean virtual asset legislation also involves the maximum shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

Upbit's parent company Dunamu has signed a strategic partnership with Visa, and the two parties will collaborate on stablecoins and AI-based financial services. At the same time, the two companies are also exploring the integration of Open Standard's OUSD into future business models.This collaboration was announced just two days after Visa reached a partnership with South Korea's Shinhan Bank, also focusing on stablecoins and AI-related fields. Dunamu, as the operator of South Korea's major digital asset trading platform Upbit, aims to promote the application of stablecoins and the layout of intelligent financial products by partnering with the global payment giant.

On August 26, according to the Korea Herald, South Korean cryptocurrency exchange operator Dunamu has been designated by the Ministry of the Interior and Safety as a "Joint Utilization Agency for Administrative Information," becoming the first cryptocurrency exchange operator in South Korea to obtain this qualification. The Ministry of the Interior and Safety completed on-site inspections and qualification reviews in May of this year and made the designation decision this month.Dunamu plans to use this system for user identity verification (KYC), reducing the process of users repeatedly submitting proof materials by accessing relevant administrative information, thereby improving the efficiency of account opening and account verification.

According to South Korean media NATE, Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, responded to rumors of a U.S. listing, stating that the company has indeed been in contact with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), but has not yet confirmed a U.S. listing and has not converted its financial statement accounting standards to U.S. Generally Accepted Accounting Principles (US GAAP).Dunamu stated that it had previously only compared and understood the differences between Korean accounting standards and US GAAP, and is currently planning to complete a share exchange with Naver Financial by December 31. After the transaction is completed, both parties plan to establish an IPO committee and promote the listing within a year, but the specific country and market for the listing have not yet been determined. Market analysts believe that if a U.S. listing ultimately occurs, Dunamu and Upbit's Korean legal entity and existing business will remain unchanged, and it is expected that they may adopt the American Depositary Receipt (ADR) method.

Upbit operator Dunamu announced its performance for the second quarter of 2026, with quarterly revenue of 173.5 billion won (approximately 12.3 million USD) and operating profit of 23.5 billion won (approximately 1.665 million USD), a decrease of about 26% and 73% respectively compared to the first quarter.In the first quarter, Dunamu's revenue was 234.6 billion won (approximately 16.6 million USD) and operating profit was 88 billion won (approximately 6.234 million USD). Dunamu stated that the decline in performance this quarter was mainly affected by the overall liquidity contraction in the global digital asset market, leading to weakened investor sentiment.

The Korean National Police Agency has selected Upbit's parent company, Dunamu, through public bidding to be responsible for the custody of seized virtual assets, with a contract period of 1 year.The confiscated digital assets will be managed through the digital asset custody service Upbit Custody, responding in real-time to regulatory infrastructure and conducting custody and management within 365 days. This service employs 100% offline cold wallets, 24/7 monitoring, and introduces MPC, DKG multi-key management, and multi-signature technology to ensure asset isolation and security.

According to South Korean media Asiae, the operator of the South Korean cryptocurrency exchange Upbit, Dunamu, announced that it has made an additional investment in the medical big data company Inocras through its investment subsidiary Dunamu & Partners, bringing the total investment amount to 14.5 billion Korean won.

Samsung SDS stated in its earnings call that its strategic investment in the South Korean cryptocurrency exchange Dunamu is a "strategic layout for entering the digital asset infrastructure business." Both parties are discussing cooperation on stablecoin infrastructure, next-generation AI payments, and virtual asset financial system integration (SI). Samsung SDS President Lee Joon-hee mentioned that they will combine Dunamu's blockchain operation experience with Samsung SDS's capabilities in IT services, AI, cloud computing, and security to strengthen the digital financial infrastructure business.The earnings report disclosed on the same day showed that Samsung SDS's revenue for the second quarter was 3.7178 trillion won (approximately 2.6 billion USD), a year-on-year increase of 5.9%; operating profit was 231.8 billion won (approximately 160 million USD), a year-on-year increase of 0.7%. Among them, the cloud computing business revenue was 779.4 billion won, a year-on-year increase of 17%, with external cloud computing business revenue surging 75% year-on-year. The company plans to expand its AI infrastructure from the current 110MW to 230MW by 2029, and further expand to over 800MW by 2031. Samsung SDS previously announced an investment of approximately 20 billion won in Dunamu in May 2024.

According to the Korea Herald, South Korea's financial regulatory agency has issued an investigation report to Upbit's operator Dunamu, initiating sanction procedures. Previously, the company suffered a hacking incident involving 44.5 billion won.Since the incident occurred, the Financial Supervisory Service (FSS) has been investigating whether there were violations of the "Virtual Asset User Protection Act." However, as there are currently no direct penalties for hacking incidents or computer system failures, it remains uncertain whether this will lead to severe disciplinary actions. The Financial Supervisory Service plans to notify the company in advance of the sanction opinion letter, which includes the level of sanctions, after the company provides an explanation. Subsequently, the final sanction measures will be determined by resolutions from the Sanction Review Committee, the Securities and Futures Commission, and the Financial Services Commission.

According to DigitalAsset, Upbit operator Dunamu has been selected as the first priority candidate for the "Management of Seized Digital Asset Custody Business" by the Korean National Police Agency. According to data from the Korean government procurement portal (KONEPS), Dunamu ranked first with a comprehensive score of 94.73 (technical score 84.73, bid price score 10), surpassing the Korea Digital Asset Custody Company (KDAC, 91.29) and Hecto Wallet One (87.27).The project budget is 267 million won, with a contract period of 1 year, aimed at entrusting the digital assets seized by the police during investigations to external professional institutions for secure custody. Previously, there were cases in the Korean judicial system where seized bitcoins were lost, raising concerns about the need for external custody of digital assets.

According to South Korea's Digital Asset, the comprehensive equity exchange date between Naver Financial and Upbit's parent company Dunamu has been postponed again from September 30 to December 31, marking the second delay this year, having previously been postponed from June 30 to September 30 in March.The equity exchange ratio remains unchanged, with 1 share of Dunamu exchanged for 2.5422618 shares of Naver Financial. Dunamu stated that the transaction still requires approval from the Fair Trade Commission for corporate mergers, approval for changes in major shareholders under the Credit Information Act, and reporting of changes in major shareholders under the Specific Financial Information Act, and the progress may lead to further delays or even the transaction falling through.Dunamu also pointed out that legislative discussions on the Basic Law of Digital Assets are progressing, and the content of future regulations may impact the conduct or outcome of the equity exchange.

According to The Block, Samsung Electronics, Dunamu (the parent company of Upbit), and several other South Korean companies have been listed as members of the Open Standard's OUSD stablecoin alliance, but many companies stated that they have not formally agreed to participate.A relevant person from Samsung Electronics told South Korean media that they have not received a formal inquiry and do not know what role they will play. Shinhan Financial Group, Dunamu, and Kbank stated that they only replied "we will look into this matter," and then their names were listed. Other companies claimed they simply responded casually with "we will consider it if things go smoothly," only to find themselves listed, feeling confused.Open Standard announced this week the formation of an alliance consisting of over 140 institutions, including Visa, Mastercard, and BlackRock, with plans to launch the OUSD stablecoin within the year.

According to the Korea Economic Daily, at least seven companies, including Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, have submitted proposals to bid to become the first private custodian of virtual assets seized by the Korean National Police Agency. Other bidders include major custodians Korea Digital Asset (KODA), Korea Digital Asset Custody (KDAC), BDACS, Hecto Wallet One, Infinite Block, and DSRV.An official from a virtual asset custody institution explained that the selection results may be finalized next month. The official pointed out that in a previous pilot project conducted for the National Tax Service, the winning bidder was determined within one to two weeks after the proposal presentation concluded.

According to the Korea Herald, Samsung Securities has decided through a board resolution to acquire a 2% stake in Dunamu for 306.3 billion won (approximately 204 million USD), which amounts to about 697,000 shares, with an acquisition price of approximately 439,000 won per share. The sellers include Kakao Investment, Kakao Ventures, Kakao Youth Entrepreneurship Fund, and KIF-Kakao Woori Bank Technology Financial Investment Fund, among others. Based on this estimate, Dunamu's overall valuation is approximately 15.3 trillion won (about 10.2 billion USD).Samsung Securities stated that this investment aims to enhance the competitiveness of its digital asset business and expand synergies. Previously, Hanwha Investment & Securities also acquired shares of Dunamu held by Kakao Investment at the same valuation.

According to iNews24, the Financial Services Commission (FSC) of South Korea is reviewing whether Hana Bank's acquisition of Dunamu shares violates the "separation of finance and virtual assets" regulatory rules. The virtual assets department of the Financial Services Commission stated that Hana Bank indirectly holds shares in Dunamu through its acquisition of Kakao Investment shares, which is essentially an investment in a virtual asset exchange and will be examined under the same standards.Since 2017, the South Korean government has prohibited financial institutions from holding, purchasing virtual assets, or making equity investments through administrative guidance. If a violation occurs, Hana Bank may not be able to complete the transaction. Future Asset Consulting is advancing the acquisition of Kobit's operating rights, and Korea Investment & Securities is also taking a cautious approach. Hana Bank previously announced the acquisition of a 6.55% stake in Dunamu but did not consult with the authorities beforehand.Currently, the "separation of finance and virtual assets" regulation has not yet been codified into law, and it is uncertain whether related provisions will be included in the digital asset bill. Legislative discussions may advance after the National Assembly reconvenes in September at the earliest.

According to Asia Economy, Upbit operator Dunamu disclosed that the consolidated revenue for the first quarter of 2026 was approximately $157 million, a year-on-year decrease of 55%; operating profit was approximately $59 million, a year-on-year decrease of 78%; and net profit was approximately $46.6 million, a year-on-year decrease of 78%.Dunamu stated that the decline in performance was mainly affected by the global economic slowdown and the decrease in trading volume in the virtual asset market.

According to Digital Asset, Hana Financial Group will invest approximately 1 trillion won (about 667 million USD) to acquire a 6.55% stake in Dunamu, the operator of the South Korean cryptocurrency exchange Upbit.