Bithumb Sets Sights on 2028 IPO with Three-Phase Plan

Bithumb, South Korea's second-largest cryptocurrency exchange, has set its sights on an initial public offering (IPO) in 2028. The platform announced a three-phase plan to prepare for listing, with phase one complete by August 3, 2026.

Phase one involves upgrading internal controls and switching from Korean Generally Accepted Accounting Principles (GAAP) to the globally recognized International Financial Reporting Standards (K-IFRS). Phase two will see Bithumb file a preliminary listing review with Korea's trading platform in 2027. Phase three is the actual IPO, targeted for 2028.

The timeline has been adjusted several times since 2023, when Bithumb initially aimed to list on the Korean Stock Exchange (KOSDAQ) in the second half of 2025. Each delay was attributed to different reasons, including corporate restructuring and internal controls.