Upbit operator Dunamu reported a surge in profitability for the third quarter of the yr, posting 239 billion gained ($165 million) in internet revenue.
The determine marks a rise of greater than 300% in comparison with the identical interval final yr, which stood at $40 million, native information outlet Chosun Biz reported, citing regulatory filings with the Financial Supervisory Service.
The submitting reportedly confirmed sturdy momentum throughout all key metrics. Consolidated income climbed to $266 million, up 35% from the earlier quarter, whereas working profit rose 54% to $162 million. Net revenue additionally jumped 145% quarter-over-quarter from $67 million.
The firm attributed its improved efficiency to rising buying and selling exercise as international digital asset markets rebounded via 2024 and 2025.
Related: South Korea’s bank-first stablecoin approach lacks logic, says Kaia chair
Dunamu credit US crypto payments for enhance
Dunamu stated investor confidence obtained a lift following regulatory developments in the United States, together with the passage of the Genius Act, the Clarity Act and the Anti-CBDC Bill. These measures, the corporate stated, contributed to renewed institutional participation and steadier market circumstances.
Dunamu has confronted heightened reporting necessities since 2022, when it was added to the record of companies topic to exterior audit as a result of having greater than 500 shareholders.
Notably, a number of main crypto corporations skilled a income improve final quarter. Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter income from the earlier yr.
Related: South Korea ramps up crypto seizures, will target cold wallets
Naver Financial to amass Dunamu
As Cointelegraph reported, Naver Financial, the fintech arm of South Korea’s largest web firm, is preparing to acquire Dunamu. Naver reportedly plans to carry Dunamu in as a subsidiary via a share swap, with board approvals anticipated quickly.
Upbit Korea is the largest crypto exchange in South Korea in phrases of buying and selling quantity and buyer base, according to CoinMarketCap.
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