Upbit Seeking Nasdaq IPO Following Merger With Naver: Bloomberg
South Korean crypto exchange Upbit is planning a Nasdaq IPO after completing its merger with internet giant Naver.Summary
South Korean cryptocurrency exchange Upbit is reportedly aiming for an Initial Public Offering (IPO) on the Nasdaq once its merger with South Korean internet giant Naver is finalized, which is expected this week. The merger, first reported in September, involves Upbit's parent company, Dunamu, being integrated under Naver's financial arm through a stock swap deal. This strategic move suggests that Dunamu and Naver Financial will form a unified entity connecting cryptocurrency and traditional finance (TradFi). This development follows a trend of high-profile crypto firms like Circle, Bullish, and Gemini listing on U.S. public markets this year, with Kraken anticipated to follow in 2026. Neither Naver nor Dunamu immediately commented on the report.
(Source：CoinDesk)