Upbit Targets Nasdaq IPO After Merger With Naver

South Korea’s Upbit is preparing to pursue a Nasdaq IPO following its merger with internet giant Naver, according to Bloomberg. The merger, expected to be finalized this week, will bring Upbit’s parent company Dunamu under Naver’s financial arm through a stock swap.

The combined entity aims to bridge traditional finance and crypto services. The move comes amid a wave of crypto firms seeking U.S. listings, including Circle, Bullish and Gemini, with Kraken expected to follow in 2026.

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