South Korean crypto alternate Upbit is eyeing an preliminary public providing (IPO) on Nasdaq, in accordance with a Bloomberg report on Monday.
The Seoul-based platform is within the means of merging with South Korean web large Naver, with reviews saying the merger shall be accomplished this week.
Upbit will goal a Nasdaq IPO as soon as the merger is full, in accordance a put up on X Monday which cited Bloomberg.
The deal between Upbit and Naver was first reported in September, with ideas that the previous’s father or mother Dunamu can be introduced beneath the umbrella of Naver’s monetary arm through a inventory swap deal.
The merger plans now factors towards Dunamu and Naver Monetary forming a single entity bridging crypto and conventional finance (TradFi).
This calendar yr has seen high-profile crypto firms Circle Web Group (CRCL) Bullish (BLSH) and Gemini (GEMI) record on public markets within the U.S, with Kraken anticipated to observe swimsuit in 2026.
Naver and Dunamu didn’t instantly reply to CoinDesk’s request for remark.
