Bithumb, a South Korean-based cryptocurrency exchange, is reportedly planning to conduct an initial public offering (IPO) in 2025. The exchange, which began operations in 2014, aims to go public in the second half of 2025.
Bithumb has selected Samsung Securities, a subsidiary of the Samsung Group, as the underwriter for the IPO. While the exchange has not officially confirmed its plans, it has acknowledged the selection of an underwriter.
The primary objective of the IPO is to increase Bithumb's market share and catch up to its top domestic competitor, Upbit. Currently ranked as the 13th-largest crypto exchange in the world in terms of trading volume, Bithumb aims to improve its image and increase trust in order to attract more users.
Ahead of the possible IPO, Bithumb's former chairman, Lee Jeong-hoon, has returned to the company as a registered director. This move is seen as a strategic decision to strengthen the leadership team.
Bithumb's plans to conduct an IPO in 2025 reflect its ambition to expand its market share and enhance its reputation in the cryptocurrency industry. By going public, the exchange aims to attract more users and compete with its top domestic rival, Upbit. With the selection of Samsung Securities as the underwriter and the return of Lee Jeong-hoon as a registered director, Bithumb is positioning itself for future growth and success.
