Naver Financial to Launch ’Silk Pocket’ Stablecoin Wallet
Naver Financial will launch a stablecoin wallet service called Silk Pocket next month. The stablecoin wallet service is built in partnership with blockchain investor Hashed. The Busan digital exchange also contributed to the development. This move marks Naver’s deeper push into cryptocurrency services. Naver Financial is the financial arm of Naver Corporation. It is merging with Dunamu, parent of the Upbit exchange, in a KRW 20 trillion stock-swap. The exchange ratio was recently revised to 1:3.3–3.4 in favor of Dunamu. Dunamu reported KRW 1.186 trillion in operating profit for 2024 and $165 million in net income in Q3 2025, a 300% year-on-year rise. Silk Pocket aims to streamline stablecoin storage and transactions, strengthening Naver’s position in South Korea’s crypto-fintech sector.
Bullish
The launch of Silk Pocket stablecoin wallet service by Naver Financial indicates a growing commitment to cryptocurrency infrastructure in South Korea. Historically, major wallet releases and fintech partnerships (e.g., PayPal integrating stablecoins or Coinbase Wallet expansions) have spurred trading volumes and market confidence. This new service could boost stablecoin adoption and trading activity on local exchanges in the short term. In the long run, these developments may reinforce Naver’s fintech ecosystem and drive further integration of digital assets among retail and institutional users, supporting a bullish market outlook.