Bithumb planning IPO on KOSDAQ, goals for prime spot in Korean crypto market

• Bithumb goals to be the primary crypto-related firm listed on KOSDAQ.
• Bithumb has chosen Samsung Securities because the underwriter for its strategic transfer into conventional monetary markets.
• Former Chairman Lee Jeong-hoon has made a comeback, boosting confidence as Bithumb seeks to rebuild belief.

South Korean cryptocurrency change Bithumb is strategically positioning itself for an preliminary public providing (IPO) on the Korean Securities Sellers Automated Quotations (KOSDAQ) by the second half of 2025, in accordance with stories from a neighborhood information outlet.

Bithumb’s choice to go public is seen as a strategic response to latest {industry} challenges, corresponding to hacks and collapses. By subjecting its operations to exterior validation, the corporate goals to construct public belief within the cryptocurrency market.

Observers speculate that Bithumb’s IPO aspirations aren’t solely pushed by exterior monetary necessities, given the corporate’s substantial belongings, transaction knowledge, and revenues, exceeding 400 billion received.

With plans to reclaim the highest spot within the Korean market, Bithumb’s IPO might doubtlessly appeal to institutional buyers and increase confidence amongst retail buyers and new adopters.

This transfer follows the footsteps of Upbit, which presently holds a major market cap in South Korea’s crypto panorama and is a part of the self-regulating physique referred to as the South Korean Blockchain Affiliation.

IPO preparations in full swing

In its bid to turn out to be the primary industry-related firm listed on KOSDAQ, Bithumb has undertaken concrete steps, together with the hiring of workers and onboarding conventional corporations to facilitate the general public itemizing. The transfer aligns with the corporate’s imaginative and prescient to safe the highest spot in South Korea’s digital asset change market by buying and selling quantity.

Final month, Bithumb took a major stride by choosing Samsung Securities as its underwriter for the IPO. Whereas the corporate has but to substantiate the precise particulars of the general public itemizing, it has acknowledged the appointment of an underwriter. This choice is indicative of Bithumb’s dedication to adhering to rigorous monetary scrutiny because it ventures into the realm of conventional monetary markets.

The CEO of Bithumb Holdings, Jaewon Lee, will lead the corporate by this strategic shift and potential itemizing on KOSDAQ, marking a major improvement for the Korean cryptocurrency {industry}.

Lee Jeong-hoon returns amid strategic shift

As inside planning continues, former Chairman Lee Jeong-hoon, the biggest shareholder, has returned to the board of administrators. This transfer is geared toward instilling confidence within the administration workforce and bringing a way of stability as the corporate gears up for its IPO.

Notably, Lee Jeong-hoon had confronted accusations associated to fraud regarding Bithumb’s acquisition, however he was discovered not responsible earlier this 12 months.