SEOUL (Reuters) -Naver Financial, a unit of South Korean internet giant Naver, has agreed to acquire Dunamu, an operator of the country’s largest cryptocurrency exchange Upbit, in an all-stock deal valued at 15.13 trillion won ($10.27 billion).

The payment platform said in a regulatory filing on Wednesday that the deal, which is one of the largest in Asia this year, aims to secure future growth based on digital assets.

Naver’s fintech subsidiary plans to issue 2.54 shares for every one share in the operator of Upbit.

South Korea has a booming cryptocurrency market, and the merger would help Naver secure new growth drivers in digital assets and stablecoins, allowing investors to expect growth in its fintech business beyond its existing advertising, commerce and content operations, accord

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