Upbit IPO Nasdaq Merger Completion
- south Korean cryptocurrency exchange Upbit is reportedly planning an initial public offering (IPO) on the Nasdaq stock exchange following its merger with South Korean internet giant Naver.
- The merger involves Upbit's parent company, Dunamu, and Naver, and is expected to be finalized this week, according to Bloomberg.
- The merger between Dunamu and Naver, announced on September 25, 2025, by Reuters, is a notable development in the South Korean tech and finance landscape.
“`html
Table of Contents
Updated November 24, 2025, 16:58:06 EST
What Happened?
south Korean cryptocurrency exchange Upbit is reportedly planning an initial public offering (IPO) on the Nasdaq stock exchange following its merger with South Korean internet giant Naver. The move, first reported by CoinDesk on November 24, 2025, signals a potential bridge between the cryptocurrency and conventional finance sectors.
The merger involves Upbit’s parent company, Dunamu, and Naver, and is expected to be finalized this week, according to Bloomberg. this consolidation aims to create a powerful entity capable of navigating the evolving regulatory landscape and expanding market reach.
The merger between Dunamu and Naver, announced on September 25, 2025, by Reuters, is a notable development in the South Korean tech and finance landscape. Naver will acquire a 63.5% stake in Dunamu for approximately ₩2.8 trillion (approximately $2.1 billion USD as of November 24, 2025).
Naver, a dominant force in South Korea’s internet services - encompassing search, web portals, and e-commerce – brings significant resources and a broad user base to the partnership. Dunamu, through Upbit, controls a significant share of the South Korean cryptocurrency market. The combined entity is expected to leverage synergies in technology, user access, and financial infrastructure.
Key Financial Details
| Metric | Value |
|---|---|
| Naver’s Stake in Dunamu | 63.5% |
| Merger Value | ₩2.8 Trillion (approx. $2.1 Billion USD) |
| Upbit’s Market Share (South Korea) | Approximately 80% (as of Q3 2025) |
Source: Reuters,