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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.
