Summary
- Bithumb, South Koreas largest crypto exchange, said it is preparing for an initial public offering in 2028 following a major internal reorganization.
- The company aims to complete risk management assessments and align with domestic and international accounting standards by the end of 2026, then seek a preliminary listing review in 2027.
- The IPO timeline, which follows regulatory scrutiny after a $40 billion transfer blunder and internal control failures, could shift depending on market conditions and regulators reviews.
South Koreas largest crypto exchange Bithumb said Monday it is preparing for a 2028 initial public offering (IPO) following a major internal reorganization to strengthen control and adoption of international account standards.
Seoul-based Bithumb did not reveal where it plans to launch the IPO. However, it did say it is working with domestic and international securities, law and account firms on the IPO process. Last year, Bithumb was said to be considering a NASDAQ listing, and later changed its plans to a listing on South Koreas Kosdaq first.
CoinDesk approached Bithumb via email for more information, including where it plans to list its IPO, but had not received a response as of press time.
The crypto trading platform also said it plans to complete its risk management systems assessments and meet domestic and international account standards by the end of 2026. It then plans to apply for a preliminary listing review in 2027, with the IPO targeted for 2028.
Bithumb said the timetable could change depending on market conditions and regulators reviews.