Is Asia's largest crypto company about to be born? The parent company of South Korea's Upbit exchange is currently voting on a merger deal with Naver Financial, a financial subsidiary of South Korea's tech giant Naver. Once the merger is complete, it’s expected to become Asia's largest compliant crypto company. According to disclosures, the post-merger valuation is estimated at around $13.8 billion, with potential to surge to at least $34.5 billion ahead of a future U.S. IPO. Although Naver's stake will drop from 69% to 17% after the merger, Upbit will delegate over half of its voting rights to Naver, backed by the SoftBank consortium, ensuring Naver retains overall control and decision-making power. Not long ago, SoftBank's PayPay completed its investment in Binance Japan. Masayoshi Son is winning big.