South Korean Crypto Exchange Eyeing Nasdaq Listing

Upbit is planning a Nasdaq IPO once its merger with Naver Financial was complete, according to Korean local news outlet Seoul Economic Daily (h/t The Block).

What’s the Scoop?

• IPO target: The local outlet reported that Upbit is planning for a Nasdaq listing.
• Merger timing: The exchange is expected to complete its merger with Naver Financial this week, positioning the combined entity for a U.S. public debut.
• Deal structure: The merger, first announnced in September, involved Dunamu being brought under Naver Financial through a stock swap, creating a single platform that tied crypto operations to more traditional finance services.