South Korea’s Upbit parent plans US IPO after Naver merger: Report

US investors could soon get exposure to South Korea’s active crypto market, as crypto exchange Upbit’s parent company, Dunamu, reportedly eyes a Nasdaq listing.

Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly looking to debut in the US after it finalizes its merger with local tech giant Naver.

Dunamu wants to launch an initial public offering on the tech-heavy Nasdaq after its merger closes, which is expected to occur later this week, the Seoul Economic Daily reported on Monday. 

Local outlet The Chosun Daily reported on Monday that Dunamu and Naver plan to hold separate board meetings on Wednesday to approve the merger. If passed by each board, the CEOs of Dunamu and Naver will publicly detail their post-merger plans on Thursday.

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