Bithumb IPO Plans ‘Accelerate’ as South Korean Crypto Exchange Eyes Public Listing

Bithumb, the South Korean cryptocurrency exchange, is accelerating its initial public offering (IPO) plans as the crypto market continues to thrive. The exchange is looking to launch a fast-tracked IPO and has announced its intention to spin off its holdings operations into a separate company called Bithumb Investment. This move will allow the new firm to focus on controlling Bithumb’s investments, holdings, and real estate operations, while Bithumb Korea will concentrate on operating the trading platform. Shareholders will vote on the plan on May 10, and if approved, Bithumb Investment will officially launch on June 13. The exchange aims to distance itself from ongoing court cases and market manipulation allegations and wants the success of the IPO to come from its core exchange business. Bithumb has previously stated that it plans to debut on the KOSPI in 2025, but this move could potentially expedite the listing process. Regardless, Bithumb is likely to become the first South Korean trading platform to go public.