Bithumb Sets Sights on 2028 Public Listing Amid South Korean Exchange Consolidation

Bithumb, one of South Korea's largest cryptocurrency exchanges, has announced plans to go public by listing on the stock market in 2028. The exchange says it will apply for a preliminary listing review in 2027 and complete its initial public offering (IPO) the following year.

In preparation for the IPO, Bithumb is overhauling its internal controls and restructuring its business to reduce potential conflicts of interest. This includes spinning off Bithumb Asset, which will clarify responsibilities across different business units.

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

Bithumb's IPO preparations come as rival exchanges deepen their ties with traditional finance and technology groups. Mirae Asset Consulting recently took control of rival exchange Korbit, while Upbit operator Dunamu is pursuing a share-swap deal with Naver Financial.