Korea’s Upbit is Reportedly Coming to America with a Nasdaq IPO
BeInCrypto
South Korea's largest crypto exchange, Upbit, is reportedly planning a Nasdaq IPO following its parent company Dunamu's merger with tech giant Naver.Summary
South Korea's largest cryptocurrency exchange, Upbit, is reportedly preparing for a Nasdaq Initial Public Offering (IPO). This development follows the confirmation that Upbit's parent company, Dunamu, is set to be acquired by tech giant Naver through a KRW 20 trillion ($14.5 billion) stock-swap merger. This transaction, expected to be approved soon, would make Dunamu a wholly owned subsidiary of Naver. The merger is anticipated to create a major Asian fintech-crypto conglomerate by combining Naver's existing financial ecosystem with Upbit's dominant 70% share of the domestic crypto trading market, thereby accelerating its entry into US capital markets.
(Source：BeInCrypto)