According to the source, Seoul Economic Daily reported that Dunamu, the operator of South Korea’s Upbit exchange, is planning a US IPO on Nasdaq following a merger with tech company Naver. Source: Seoul Economic Daily. Dunamu operates the Upbit digital asset trading platform in Korea, making it a key infrastructure player for KRW crypto liquidity. Source: Dunamu corporate information. A Nasdaq IPO would require SEC registration and ongoing disclosures under US securities laws, increasing transparency for investors who track exchange operators. Source: U.S. SEC. As a peer reference for valuation and sector read-through, Coinbase (ticker COIN) is listed on Nasdaq as a crypto exchange operator. Source: Nasdaq.