Bithumb announces IPO plans for 2025
Through this listing, Bithumb aims at regaining market trust and reclaiming its top position as a crypto exchange
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South Korean crypto exchange Bithumb has announced its plans to go public in the second half of 2025 by launching its Initial Public Offering (IPO) on South Korea’s KOSDAQ stock exchange.
For now, the focus is on the KOSDAQ listing, but there is a possibility of changing the destination to the country’s main security market, KOSPI.
Bithumb did not comment clearly on their IPO plans but said, “It is true that we have selected an underwriter.†By October end, Bithumb Korea selected Samsung Securities as the underwriter and began working on the IPO.
Contrary to typical IPO motivations, Bithumb’s decision is not driven by the need for external funding. According to Bithumb Korea’s semi-annual report for this year, the company has financial assets worth more than 400 billion.
Instead, the purpose of the IPO is to help Bithumb regain the top spot in the market, which was lost to Upbit due to a lack of market trust. The company aims to achieve this by enhancing governance, increasing management transparency, and obtaining external verification for its internal control system.
