South Korean crypto exchange giant Bithumb is reportedly considering a listing on the U.S. NASDAQ, following discussions at a shareholder meeting.
The company is open to exploring “all possibilities” for its initial public offering (IPO), including both domestic and international markets.
Initially, it was speculated that Bithumb would list on South Korea’s KOSDAQ by late 2025, with Samsung Securities selected to draft the IPO prospectus.
However, recent statements indicate a potential shift toward global options. An official from Bithumb stated that the company is keeping “all possibilities open” for the listing.
Bithumb’s IPO plans faced delays due to internal strategy reviews and controversies involving former chairman Lee Jeong-hoon. The company also reported significant financial declines in 2023, with revenue dropping 57% and net profit falling 74.5%, attributed to falling crypto prices and a fee-free trading policy.
Despite these setbacks, Bithumb continued to grow, recording peak Bitcoin trading volumes and capturing a 72% market share in South Korea earlier this year.
CoinMarketCap ranks Bithumb as the second-largest spot crypto trading platform in the country, with a 24-hour trade volume exceeding $666 million, trailing only Upbit, which sees nearly $2 billion in daily volume.
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