Dunamu, the operator of crypto trading platform Upbit, is reportedly merging with Naver Financial to become a wholly-owned subsidiary of the Korean tech company. Naver neither confirmed nor denied the news.
Coupang and Naver, the two largest e-commerce marketplaces in Korea by sales, are now competing in loan services.
Korean tech companies are providing and expanding buy now, pay later (BNPL) services to develop markets and build customer loyalty.
Fintech and e-commerce companies are providing limited buy-now-pay-later services, edging in slowly on the domain of credit-card companies.
Naver Financial joined forces with Woori Bank to offer a loan service to small businesses that sell products online.
Major tech firms have started to competitively loan money to small business owners who used to be in a conventional finance blind spot.
Naver Financial launched a loan service Tuesday designed exclusively for small businesses that sell products online.
Naver Financial on Monday launched a new service that offers entrepreneurs financial tools and advice and connects them with loan services and government funds.
Naver Pay can now be used in offline locations, potentially shaking up the mobile payment market
Naver Financial hopes to use data and artificial intelligence (AI) to help small-and-medium-sized enterprises (SME) and people who can't borrow from traditional financial institutions because they don't have a credit history.
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