Dunamu Denies Nasdaq Listing Plans Amid Speculation

Dunamu, the operator of Upbit crypto exchange, has pushed back on speculation over a potential US Nasdaq listing. The company said it plans to pursue a listing after completing a comprehensive stock swap with Naver Financial, but no specific market or country has been chosen.

The stock swap between Dunamu and Naver Financial was valued at around $10.8 billion for Dunamu and $3.6 billion for Naver Financial. After the swap, they plan to pursue a listing for Naver Financial.

Dunamu denied reports that it had completed the conversion of its financial statements to US accounting standards, saying an inquiry about differences between Korean and US accounting rules was misconstrued.