Korea’s Upbit is Reportedly Coming to America with a Nasdaq IPO

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South Korea’s biggest crypto exchange, Upbit, is now positioning for a potential Nasdaq IPO, following confirmation that tech giant Naver is preparing to acquire its parent company, Dunamu, in a landmark stock-swap merger.

The move, expected to be approved at board meetings next week, would create one of Asia’s most powerful fintech–crypto conglomerates and accelerate Korea’s entry into US capital markets.

Naver–Dunamu Merger Ignites Upbit’s Nasdaq IPO

Reports, citing Bloomberg, suggest that Upbit exchange could soon launch in the US.

https://twitter.com/zoomerfied/status/1992886062167810557?s=20

The announcement comes only days after local reports that Naver Financial will acquire Dunamu through a KRW 20 trillion ($14.5 billion) stock exchange, making the Upbit operator a wholly owned subsidiary of the country’s dominant internet conglomerate.

The merger would combine Naver’s fintech ecosystem with Upbit’s 70% share of domestic crypto trading, instantly creating a global-scale digital finance platform.

Read original story Korea’s Upbit is Reportedly Coming to America with a Nasdaq IPO by Lockridge Okoth at beincrypto.com