Bithumb: South Korea’s Notable Crypto Exchange
- Bithumb ranks as the second largest cryptocurrency exchange in South Korea.
- The company recently held a shareholder meeting on September 30, discussing potential plans for a Nasdaq listing.
Bithumb is making headlines with considerations for a public listing in the United States, according to a report from Dnews.
IPO Plans and Resolutions from the Shareholder Meeting
During the extraordinary meeting on September 30, 2024, discussions centered on the possibility of an Initial Public Offering (IPO) in the latter part of 2025. Additionally, shareholders voted to change the company’s official name from Bithumb Korea to simply Bithumb, after its original title, BTC Korea.com.
Emerging Trends in the Crypto Market
Bithumb’s IPO discussions coincides with a trend among crypto companies such as Circle, who have also unveiled similar plans for becoming publicly traded entities. Crypto news outlet Wu Blockchain highlighted the significance of this potential move for Bithumb.
Bithumb, South Korea’s second largest cryptocurrency exchange, announced at an extraordinary shareholders’ meeting that it is considering listing on the Nasdaq, aiming for the second half of 2025, with Samsung Securities as the lead…
— Wu Blockchain (@WuBlockchain) September 30, 2024
Challenges and Future Aspirations
Bithumb first pursued the path to becoming a publicly-traded entity in 2020. However, stringent regulations and unfavorable accounting standards forced the exchange to abandon its KOSDAQ IPO ambitions.
While the exchange is still open to a domestic listing, it is increasingly inclined towards an overseas offering, inspired by the successful example set by companies like Coinbase.
For its planned US IPO, Bithumb has appointed Samsung Securities as the lead underwriter. With a market share fluctuating between 10% and 20%, a successful Nasdaq listing could potentially propel Bithumb’s growth even further.
