Bithumb Moves Closer to Public Listing With 2028 IPO Plan

Bithumb, the second-largest crypto exchange in South Korea, is moving ahead with its IPO plans. As part of its vision to become a publicly listed company, the company is expected to seek a preliminary listing review in 2027. The exchange has also announced plans to complete its initial public listing in 2028.

Now, the crypto exchange is preparing for the review and the subsequent listing. For that, the platform is upgrading its internal controls, adopting international standards, and restructuring its business operations. As per Bithumb’s statement, these initiatives are expected to enhance the exchange’s transparency, governance and public trust.

Bithumb unveils roadmap for 2028 IPO

According to the latest reports, the South Korean crypto exchange, Bithumb, has revealed a clear timeline for its planned public listing. The platform revealed in an official statement:

"An IPO is a process through which the company’s integrity and sustainability are tested by the market and investors. We will build a transparent governance structure, stronger internal controls and investor protection systems."

Notably, the crypto exchange eyes significant developments in 2026, which would lay the groundwork for the company’s potential IPO. The key development includes upgrades to the ecosystem’s internal controls. The company is also adopting the Korean International Financial Reporting Standards (K-IFRS) by the end of 2026. 

In 2027, the firm plans to submit a preliminary listing application, which would ultimately be followed by its much-awaited IPO in 2028. It is important to mention that this development comes hot on the heels of Bithumb’s listing of Ripple’s RLUSD stablecoin, as recently reported by CoinCodex.

As part of this initiative, the South Korean crypto exchange is strengthening its risk management system and improving its corporate governance. The firm is reportedly changing from Korean Generally Accepted Accounting Principles (K-GAAP) to K-IFRS.

In addition, the platform is separating Bithumb Asset into a standalone business.  This, according to the team, would simplify the company’s corporate structure and boost governance. While preparing for the public listing, the company is also working closely with security firms, law firms, and accounting firms. 

How will the crypto exchange manage market volatility?

Amid IPO preparations, Bithumb is taking significant steps to reduce the impact of market volatility on its business. Instead of relying heavily on trading activity, the platform intends to diversify its business model. This would help it to maintain a stable source of revenue even during periods of market uncertainty.

Further, Bithumb aims to maintain sufficient liquid assets. This is to strengthen the firm’s financial position and better respond to surprising market conditions. With liquid assets, the exchange could stay stronger amid market volatility and fluctuations.

Moreover, the company is planning to improve transparency by sharing information about its financial performance, management decisions, and crypto holdings. This would significantly build trust among users, investors, and regulators.

Bithumb’s IPO plans delayed thrice

It is worth noting that Bithumb’s latest IPO plan comes after multiple delays to public listing timelines. Over the past few years, the exchange has revised its listing timeline several times.

For example, the company announced plans to IPO on South Korea’s KOSDAQ market in November 2023. The plan was to launch the IPO in the second half of 2025, but it didn’t happen. In September 2024, reports revealed the company’s plan to go public on the Nasdaq.

Now, the IPO timeline is once again pushed back to 2026. The company is now seeking a preliminary listing review in 2027. The latest reports suggest that Bithumb is planning to go officially public in 2028.