Bithumb, a crypto exchange, plans to become the first digital asset company to go public on the South Korean stock market, stated Cointelegraph.
With insights from Edaily, a local news outlet, on November 12, 2023, that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ South Korea’s version of the United States Nasdaq. The listing date is expected to be set for sometime in the second half of 2025.
Bithumb is believed to have declined to confirm whether the IPO was going ahead. They are believed to have admitted to selecting an underwriter. Bithumb chose Samsung Securities as its potential IPO underwriter, Edaily explained.
Additionally, the sources mentioned that Bithumb’s move to go public resulted from not wanting to give up further market share to Upbit, a crypto exchange in South Korea, Cointelegraph concluded.
(With insights from Cointelegraph)
