Bithumb now targets 2028 IP after major internal restructuring
South Korean crypto exchange Bithumb has delayed its IPO plans to 2028 following internal restructuring and regulatory challenges. The company is currently working with legal and financial firms to meet international accounting standards before seeking a listing.
Why it matters
The delay reflects the increasing regulatory scrutiny and internal governance requirements facing major cryptocurrency exchanges globally.
Seoul-based Bithumb did not reveal where it plans to launch the IPO. However, it did say it is working with domestic and international securities, law and account firms on the IPO process. Last year, Bithumb was said to be considering a NASDAQ listing, and later changed its plans to a listing on South Korea’s Kosdaq first.
CoinDesk approached Bithumb via email for more information, including where it plans to list its IPO, but had not received a response as of press time.
The crypto trading platform also said it plans to complete its risk management systems assessments and meet domestic and international account standards by the end of 2026. It then plans to apply for a preliminary listing review in 2027, with the IPO targeted for 2028.
Bithumb said the timetable could change depending on market conditions and regulators’ reviews.
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