Bithumb Sets Sights on 2028 IPO with Preliminary Review Filing in 2027

Bithumb, South Korea's second-largest cryptocurrency exchange, is setting its sights on a 2028 initial public offering (IPO) after filing for a preliminary listing review in 2027. The company is taking steps to strengthen internal controls and meet global accounting standards by transitioning from K-GAAP to K-IFRS.

Bithumb's restructuring efforts include separating business division roles, which it claims will help block potential conflicts of interest. The exchange is also diversifying its revenue streams and boosting liquid assets to ensure financial stability.

The company has been consulting with top domestic accounting firms on the transition to K-IFRS, a global capital market standard. Bithumb aims to 'maximize corporate value and demonstrate management transparency' through this process.