
Upbit’s path to a Nasdaq IPO gains traction through a $14.5 billion equity swap between Naver and Dunamu, signaling one of South Korea’s largest fintech integrations.
South Korean crypto exchange Upbit is moving closer to a Nasdaq initial public offering following a $14.5 billion equity swap between Naver and Dunamu, its parent company. The corporate tie-up will merge Dunamu into Naver's financial arm, combining cryptocurrency services with traditional finance. This large-scale integration marks one of South Korea’s biggest fintech transactions and aligns with a trend of digital asset firms entering U.S. public markets.