Bithumb Aims for 2028 IPO with Six Major Overhauls

Bithumb, South Korea's second-largest crypto exchange, has announced its plan to go public through an initial public offering (IPO) in 2028. The exchange aims to file for a preliminary listing review in 2027.

Before entering the stock market, Bithumb is making six major changes to improve transparency and internal controls. These include building stronger risk management systems, upgrading internal controls with the help of leading accounting firms, and changing its accounting standards from K-GAAP to K-IFRS.

The exchange also plans to spin off Bithumb Asset, restructure parts of its business, and work on strengthening its financial position by diversifying revenue sources and maintaining healthy cash reserves. Additionally, Bithumb is improving its disclosure practices by regularly sharing financial information, management updates, and digital asset holdings.