Bithumb Targets 2028 IPO, Eyes Institutional Credibility
Bithumb, South Korea's second-largest cryptocurrency exchange, has set its sights on an initial public offering (IPO) in 2028. The exchange will undergo a preliminary review in 2027, but this timeline is not set in stone.
The IPO would mark a significant milestone for the domestic industry, moving it from a loosely regulated trading frenzy toward audited corporate structures. Bithumb is transitioning to Korean International Financial Reporting Standards (K-IFRS), which requires rigorous revenue recognition and asset valuation practices.
This shift signals that management is treating the listing process as a full financial audit rather than a headline-grabbing announcement. The exchange is also strengthening internal controls and restructuring its business lines, but specifics remain undisclosed.