Bithumb Races Toward 2028 IPO

Cryptocurrency exchange Bithumb is accelerating its preparations for a stock market listing. The company announced on August 4th that it's targeting an initial public offering (IPO) in 2028, with plans to file for a preliminary listing review next year as part of its phased roadmap toward going public.

The road to IPO will involve completing enhancements to Bithumb's internal control framework and preparations for the transition to Korean International Financial Reporting Standards (K-IFRS) by the end of this year. The company will then apply for a preliminary listing review next year and complete its IPO in 2028.

Bithumb is overhauling its risk management and internal control systems, focusing on customer asset protection and system stability - essential requirements for a cryptocurrency exchange. To meet global standards, the company is working with a major accounting firm to transition from Korean Generally Accepted Accounting Principles (K-GAAP) to K-IFRS.

The restructuring of Bithumb's business structure last year separated its exchange operations under Bithumb from new-business operations under Bithumb Asset. This move simplified the business and clarified responsibilities across units.