South Korean cryptocurrency trade Upbit is contemplating an preliminary public providing (IPO) on Nasdaq, based on 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 could possibly be accomplished this week.
Upbit will search an IPO on the Nasdaq as soon as the merger is accomplished, based on an X Monday submit citing Bloomberg.
The Upbit-Naver deal was first reported in September, with strategies that Upbit’s father or mother firm Dunum would change into a part of Naver’s monetary arm by a inventory swap deal.
The merger plan at present goals for Dunamu and Naver Monetary to type a single entity that can bridge cryptocurrencies and conventional finance (TradFi).
This 12 months, high-profile crypto corporations Circle Web Group (CRCL), Blish (BLSH), and Gemini (GEMI) have listed on the U.S. public markets, with Kraken anticipated to comply with in 2026.
Naver and Dunum didn’t instantly reply to CoinDesk’s requests for remark.
