SEOUL — South Korea’s cryptocurrency industry may be approaching a major turning point as Dunamu, operator of the country’s largest crypto exchange Upbit, looks beyond its domestic market and sets its sights on connecting Korean digital finance with the global financial system.
Dunamu CEO Oh Kyoung-suk outlined the company’s expansion strategy Wednesday at Korea Blockchain Week 2026, saying Korea already has strong digital-asset capabilities, including a large user base, deep liquidity and industry expertise. The challenge, he said, is connecting those strengths to international markets.
Dunamu wants to bridge Web3 and traditional finance
Oh said Dunamu aims to build shared infrastructure that could allow banks, brokerages, payment companies and fintech firms to develop compliant on-chain financial services without having to independently build every component.
That infrastructure could cover areas including trading, custody, asset transfers and anti-money-laundering compliance.
The company’s strategy would initially focus on connecting Web3 financial infrastructure with Web2 users, payment systems and platforms, potentially through its planned combination with Naver Financial, the operator of Naver Pay.
Dunamu and Naver Financial agreed to a comprehensive share-swap deal last year. The transaction is scheduled for completion by the end of 2026, although the Fair Trade Commission is still reviewing the proposed combination, leaving open the possibility of a delay.
Korea’s crypto market faces a regulatory crossroads
Dunamu’s global ambitions come as South Korea continues to debate how digital assets should fit into its financial system.
Rep. Min Byung-deok has introduced the Digital Asset Basic Act, designed to establish a broader regulatory framework for the industry. However, lawmakers and regulators remain divided over several major issues, including eligibility requirements for stablecoin issuers and a proposed 20 percent ownership limit for major shareholders of cryptocurrency exchanges.
The unresolved rules could have consequences for companies attempting to build businesses around stablecoins, tokenized assets and other blockchain-based financial services.
Min has argued that regulatory uncertainty could hinder Korea’s ability to compete as digital finance evolves, particularly as stablecoins become more closely connected with mainstream financial activity.
From domestic exchange to global financial infrastructure
Dunamu’s strategy reflects a broader shift in Korea’s digital-asset industry.
The country’s crypto sector is increasingly attracting traditional financial institutions, technology companies and payment platforms seeking positions in areas such as stablecoins, tokenized securities and digital-asset custody.
For Dunamu, the next stage is therefore about more than cryptocurrency trading. The company is positioning its infrastructure as a potential link between traditional finance, Web3 services and international markets.
Oh said that if Korea can improve accessibility, connectivity and export potential in digital assets, the country could strengthen its position as a global financial hub.
But with the Naver Financial transaction still awaiting regulatory review and key digital-asset legislation unresolved, Dunamu’s global ambitions now face a crucial question: can Korea build the regulatory and financial infrastructure needed to turn its domestic crypto strength into a truly international digital-finance platform?
WWC ONE MEDIA G,A
