Bithumb Sets Sights on 2028 IPO After Governance Overhaul

Bithumb, South Korea's second-largest cryptocurrency exchange, is setting its sights on an initial public offering (IPO) by 2028. The company aims to strengthen its governance and internal controls before going public.

To prepare for the IPO, Bithumb plans to upgrade its internal control systems and adopt Korean International Financial Reporting Standards (K-IFRS) this year. It will then seek a preliminary listing review in 2027 and target an IPO in 2028.

Bithumb is also restructuring its accounting system from Korean Generally Accepted Accounting Principles to K-IFRS, working with domestic and international securities firms, law firms, and accounting firms on the listing process. The company completed a corporate split last year, separating its exchange operations from new business ventures.