Bithumb eyes Nasdaq IPO in 2025 with Samsung Securities as underwriter

Bithumb, South Korea’s second-largest crypto exchange, has announced plans to prosecute a imaginable nationalist listing successful the United States astatine a Sept. 30 shareholders meeting, section media outlet Dnews reported.

The speech stated its volition to see a Nasdaq listing successful the 2nd fractional of 2025. To enactment its archetypal nationalist offering (IPO), Bithumb has appointed Samsung Securities arsenic its superior underwriter.

In March, Bithumb established a caller entity called Bithumb Investment, aiming to bolster its integer plus speech concern and heighten its prospects for a palmy IPO. This caller task volition oversee the firm’s concern and existent property brokerage divisions.

This planned IPO follows Bithumb’s unsuccessful effort to database connected Korea’s KOSDAQ marketplace successful 2020, which was abandoned owed to a deficiency of wide regulations and accounting standards for integer assets.

A Bithumb authoritative reportedly commented connected the company’s listing strategy, emphasizing that each options stay viable. The authoritative explained that the steadfast whitethorn see some home and planetary markets, including the United States.

Bithumb did not instantly respond to a CryptoSlate’s petition for further remark arsenic of property time.

Currently, Bithumb holds astir 10% to 20% of South Korea’s crypto market, with a spot trading measurement of astir $650 cardinal successful the past 24 hours, according to CoinMarketCap data. In the archetypal 4th of 2024, the speech reported earnings of 62.1 cardinal won, reflecting a 283% summation compared to the erstwhile year.

Crypto firms going public

If Bithumb follows done with its plan, it volition articulation an exclusive database of crypto firms going nationalist successful the US. In 2021, Coinbase went public connected the Nasdaq done a nonstop banal listing.

Earlier this year, stablecoin issuer Circle initiated plans to spell public. Additionally, reports suggest that Ripple intends to prosecute a nationalist listing.

Market observers judge these moves solidify crypto’s presumption arsenic a morganatic plus people that continues to summation planetary traction.

The station Bithumb eyes Nasdaq IPO successful 2025 with Samsung Securities arsenic underwriter appeared archetypal connected CryptoSlate.