#Bithumb #IPO #SouthKorea #CryptoExchange #KOSDAQ #DigitalAssets #Underwriter #MarketShare
Bithumb, a South Korean crypto exchange, has announced its plans to become the first digital asset company to go public on the South Korean stock market. According to local news outlet Edaily, Bithumb is preparing for an initial public offering (IPO) on the KOSDAQ, which is the South Korean equivalent of the United States’ Nasdaq. The expected listing date is set for the second half of 2025.
While Bithumb has not officially confirmed the IPO, it has revealed that it recently selected an underwriter, Samsung Securities. The choice of going public is believed to be a strategic move by Bithumb to maintain its market share and avoid losing out to Upbit, the largest crypto exchange in South Korea. Currently, Bithumb is the second-largest crypto exchange in the country by daily trading volume, with Upbit holding the top position.
This development follows a series of events involving Bithumb, including the return of its former chairman as a registered director and an ongoing investigation into alleged bribery involving the CEO. Bithumb has been determined to strengthen its position in the market and compete with Upbit. Going public on the South Korean stock market is seen as a significant step in achieving this goal.
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