South Korean cryptocurrency exchange Bithumb is positioning itself to become the first digital asset company to be publicly listed on the country’s stock market. The exchange is preparing for an initial public offering (IPO) on the Kosdaq, South Korea’s counterpart to the United States’ Nasdaq, targeting a launch in the second half of 2025.
While Bithumb has not officially confirmed the IPO, it has selected Samsung Securities as the underwriter, a crucial step in the public listing process. This move is seen as a strategic response to retain its market position against Upbit, South Korea’s largest crypto exchange.
Bithumb, founded in 2014, is currently the nation’s second-largest crypto exchange by daily trading volume. Its decision to go public follows a period of scrutiny and challenges, including a raid by South Korean authorities over alleged fraudulent trading and the arrest of a major shareholder on embezzlement charges.
Despite these challenges, Bithumb’s potential listing on the Kosdaq marks a significant step in the integration of cryptocurrency businesses into mainstream financial markets. With a 24-hour trading volume of approximately $580 million, the exchange demonstrates the growing influence and maturity of the cryptocurrency sector in South Korea.
Source: https://cointelegraph.com/news/bithumb-plans-first-exchange-korean-stock-market
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