Bithumb Sets Sights on 2028 Public Listing After Internal Overhaul

Korean cryptocurrency exchange Bithumb has announced plans to go public in 2028 after completing internal controls overhaul efforts. The exchange says it will apply for a preliminary listing review in 2027, but emphasizes that its timeline is flexible and subject to market conditions and regulatory reviews.

Bithumb's reorganization includes spinning off Bithumb Asset to clarify responsibilities across business units and reduce potential conflicts of interest. The company also plans to upgrade internal controls and transition from domestic accounting standards to K-IFRS, the international accounting framework used by listed companies in South Korea.

The move toward a public listing comes as several South Korean crypto exchanges tighten their relationships with traditional finance and technology groups. Bithumb's IPO ambitions follow an operational failure earlier this year when it mistakenly credited customer accounts with balances totaling 620,000 Bitcoin instead of distributing 6,200 Korean won in cash rewards.