Bithumb, which it says is South Korea's largest cryptocurrency exchange, has announced plans to target an initial public offering (IPO) in 2028. The company intends to request a preliminary listing review in 2027.
The company's roadmap involves completing assessments of its risk management systems and meeting both domestic and international accounting standards by the end of 2026. To support this process, Bithumb is working with domestic and international securities, law, and accounting firms.
This timeline follows an earlier restructuring plan announced in early 2025, which involved splitting the core crypto trading platform business from other company activities. Bithumb's initial goal had been to list in 2025, the same year the restructuring was announced.
A deficiency in internal control
According to reports, the exchange previously faced regulatory challenges following a $40 billion blunder involving a mistaken transfer of a massive amount of bitcoin. While the company previously considered a NASDAQ listing, it changed plans to list on South Korea's Kosdaq first.
Bithumb has not identified a specific proposed venue for the IPO. The company noted that the timetable could change depending on market conditions and reviews from regulators.
