NVIDIA Invests $1 Billion in Naver, Indirectly Becoming a Shareholder of Upbit?

Original Title: "NVIDIA, Is It Going to Become a Shareholder of Upbit?"
Original Author: Azuma, Odaily Planet Daily

On July 24, Beijing time, NVIDIA officially announced that it would invest $1 billion in South Korean internet giant Naver to further enhance AI infrastructure development in Korea. According to subsequent disclosures from Naver, NVIDIA will acquire approximately 4.5% of Naver's shares through this strategic investment, becoming one of Naver's significant shareholders.

This investment is not merely a financial stake but aims to foster deeper strategic cooperation around AI data centers. Bloomberg added that the funds invested by NVIDIA will support Naver's ongoing AI data center project, which is being jointly developed by Naver and the American private equity firm Brookfield. The data center is expected to fully utilize NVIDIA's AI computing hardware, with an overall scale projected to expand to more than twice its previous size.

For NVIDIA, this investment in Naver is an important step in its ongoing expansion around AI computing power, data centers, and supply chain systems; for Naver, this collaboration will further enhance its position in the competitive landscape of AI infrastructure in Korea.

Naver's Other Identity: The "Quasi" Parent Company of Upbit

For the cryptocurrency industry, NVIDIA's investment in Naver has garnered additional attention not because of Naver's AI infrastructure layout, but because the company is currently advancing a significant transaction in the South Korean cryptocurrency sector through its financial subsidiary, Naver Financial—acquiring Upbit's parent company, Dunamu.

Naver Financial was established in 2017 and is primarily responsible for operating payment services such as Naver Pay.
In 2021, Naver demonstrated a strong interest in the cryptocurrency field, attempting to acquire the mainstream South Korean cryptocurrency exchange Bithumb. Although this attempt ultimately did not succeed, it revealed Naver's ambitions in digital assets.
Although the initial attempt was thwarted, Naver did not cease its exploration of the cryptocurrency sector.
In 2025, Naver Financial began in-depth cooperation with Dunamu and gradually extended its business into the digital asset payment sector—both parties had discussions around stablecoin payment services, with Naver Pay handling payment scenarios and Dunamu providing technical support related to digital assets.
**On September 25 of the same year, Naver Financial officially announced that it would jointly promote a share exchange transaction with Dunamu to achieve full acquisition of the latter.** According to the plan released by both parties, Naver Financial will exchange newly issued shares for the shares held by Dunamu's shareholders. **After the transaction is completed, Dunamu will become a wholly-owned subsidiary of Naver Financial, and Upbit will also enter Naver's ecosystem.**
As one of South Korea's largest cryptocurrency trading platforms, Upbit was launched by Dunamu in 2017 and has long held a significant position in the South Korean digital asset trading market. If this transaction is successfully completed, it will signify a deep integration between a traditional South Korean internet giant and a cryptocurrency trading platform.
According to information previously disclosed by South Korean media, the share exchange transaction between Naver Financial and Dunamu is valued at approximately $9.9 billion, and upon completion, it is expected to create one of the largest fintech companies in South Korea.
However, due to some unforeseen reasons, this transaction has not yet been completed as of now.
### Acquisition Intentions Have Been Reached, But Stuck in Antitrust Regulation
According to the initial plan between Naver Financial and Dunamu, both parties hoped to complete the integration by 2026. However, due to the involvement of multiple regulatory areas, including South Korean finance, digital assets, and large corporate combinations, the approval progress of the transaction has not been smooth.
The biggest obstacle comes from the antitrust review by the Korea Fair Trade Commission (KFTC). **Since Naver is a significant player in the South Korean internet sector and Upbit has long held a leading position in the South Korean cryptocurrency trading market, the combination of the two companies could form a vast business system covering payments, financial services, and digital asset trading, thus requiring regulatory agencies to assess whether it would impact market competition.**
In addition, this transaction also involves multiple regulatory approval stages, including the approval related to the change of Naver Financial's largest shareholder and the relevant declarations made by Dunamu according to South Korea's Specific Financial Transaction Information Act.
In July 2026, Naver Financial and Dunamu announced again that the completion date of the transaction would be postponed, with the share exchange transaction originally scheduled for September 2026 being pushed back to December 31 of this year.
However, both parties have not given up on this transaction. Naver Financial stated that the company will continue to actively cooperate with the regulatory review process and promote the smooth completion of the transaction; Dunamu also emphasized that the cooperation aims to enhance the competitiveness of South Korean enterprises in the digital finance sector.
**Although the acquisition intentions between Naver and Dunamu have long been unified, whether this approximately $9.9 billion transaction can ultimately materialize still depends on the final regulatory approval, which will also determine whether Upbit officially becomes a part of Naver's financial landscape.**
### So, Is NVIDIA Really Going to Become a Shareholder of Upbit?
Is NVIDIA really going to become a shareholder of Upbit? Based on the current acquisition progress between Naver and Dunamu, the strict answer is still no.
NVIDIA will acquire approximately 4.5% of Naver's shares, rather than directly holding any equity in Upbit or its parent company Dunamu. If the full acquisition transaction between Naver and Dunamu proceeds smoothly in the future, as Upbit integrates into Naver's financial system, this trading platform may indeed establish an indirect equity connection with NVIDIA.
However, this remains a potential future relationship. **A more accurate description of the current situation is that Upbit, South Korea's top cryptocurrency trading platform, and NVIDIA, the world's top market capitalization giant, have established an unfinished capital connection path.**

Original Link

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.