- Bithumb is South Korea’s second-largest cryptocurrency exchange.
- The company held a shareholders’ meeting on September 30 and is exploring a potential listing on the Nasdaq.
Bithumb, the second-largest cryptocurrency exchange in South Korea, is reportedly considering a U.S. stock market listing. Local news outlet dnews reported that Bithumb held an extraordinary shareholders’ meeting to discuss the possibility of a Nasdaq listing.
Bithumb Eyes IPO in 2025
At the September 30 meeting, shareholders reviewed plans for a potential initial public offering (IPO) in the second half of 2025. A proposal to rename the company from Bithumb Korea to Bithumb was also presented and approved by shareholders. The exchange originally operated under the name BTC Korea.com. News of Bithumb’s potential U.S. listing comes as other crypto firms, including Circle, have recently disclosed IPO plans. Crypto news provider Wu Blockchain also highlighted Bithumb’s significant potential move.
Bithumb, South Korea’s second largest cryptocurrency exchange, announced at an extraordinary shareholders’ meeting that it is considering listing on the Nasdaq in the United States, with the goal of listing in the second half of next year, with Samsung Securities as the main…
— Wu Blockchain (@WuBlockchain) September 30, 2024
Bithumb first pursued a public listing in 2020, but regulatory challenges in the crypto sector and accounting standards led the company to abandon its initial plan to list on KOSDAQ. The exchange has remained open to domestic listing opportunities while also considering overseas listings, citing Coinbase as an example of a successful U.S. IPO in the sector. For a potential Nasdaq IPO, Bithumb would work with Samsung Securities as the lead underwriter. With an estimated market share between 10% and 20%, a Nasdaq listing could accelerate Bithumb’s growth and international presence.