The mum or dad firm of South Korea’s Upbit
$2.04B
, Dunamu, is making ready for an inventory on the US inventory market.
After merging with its fintech arm, Naver Monetary, the corporate goals to pursue an preliminary public providing (IPO) on Nasdaq.
The merger is predicted to be accomplished following board votes scheduled for November 27, with leaders anticipated to stipulate their future technique on November 28.
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This choice would give US traders direct entry to one in all South Korea’s most energetic crypto markets.
Approval from regulators will probably be key, as combining a funds supplier and a crypto change might elevate monopoly issues. The merger has to go scrutiny to make sure truthful competitors inside South Korea’s monetary ecosystem.
In August, a number of crypto corporations went public within the US resulting from a extra favorable regulatory setting. Notable listings embrace Gemini
$254.26M
, Bullish and eToro, though their inventory efficiency has been combined.
South Korea’s push towards stablecoins is tied to this company shift. Following the merger, Naver Monetary plans to roll out a neighborhood fiat-backed stablecoin. The choice aligns with nationwide efforts to assist Korean received–backed digital currencies issued by means of banks.
The itemizing would enable Wall Avenue to faucet right into a market that always behaves in another way from international crypto traits.
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