Bithumb Sets Sights on 2028 IPO, Overhauls Internal Controls

South Korean cryptocurrency exchange Bithumb has announced plans to go public in 2028, but first it needs to revamp its internal controls and operations. The exchange said it will apply for a preliminary listing review in 2027 as part of this process.

Bithumb is reorganizing its business structure, including spinning off Bithumb Asset, to clarify responsibilities across its business units and reduce potential conflicts of interest. This move is aimed at strengthening the company's controls ahead of the listing review.

The exchange has also committed to upgrading internal controls and shifting from domestic accounting standards to K-IFRS, the international accounting framework used by listed companies in South Korea.