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Bitkub, 1 of Thailand’s largest cryptocurrency exchanges, is reportedly considering an archetypal nationalist offering (IPO) overseas amid a downturn successful the section banal market.
Bitkub is readying to rise $200 cardinal arsenic portion of its imaginable IPO successful Hong Kong, Bloomberg reported connected Monday, citing anonymous sources acquainted with the matter.
Founded successful 2018, Bitkub is the largest crypto speech successful Thailand, trading astir $66 cardinal daily, according to CoinGecko data.
The speech antecedently considered an IPO successful Thailand, targeting a nationalist motorboat successful 2025, which has reportedly been stalled with volatility and uncertainty connected the Thai banal market.
Thailand’s benchmark scale fell to five-year debased successful 2025
Thailand’s equity marketplace has emerged arsenic 1 of the astir volatile Asian markets successful 2025 amid governmental disputes with Cambodia and looming commercialized threats.
The Stock Exchange of Thailand (SET), the country’s sole banal exchange, has seen its scale driblet 10% this year, reportedly slumping to a five-year debased successful the archetypal fractional of the year, making it 1 of the worst-performing markets successful Asia.
Performance of Asian banal exchanges successful the archetypal fractional of 2025. Source: Thailand Business NewsDespite 2 consecutive months of banal marketplace gains, overseas investors reportedly continued to offload Thai equities aboriginal successful the year, with nett selling positions totaling much than 100 cardinal Thai baht ($3 billion) successful the archetypal 10 months of 2025.
On the different hand, a bulk of Asian banal exchanges saw robust gains successful H1 2025, with South Korea and Hong Kong topping the inclination with maturation of 27% and 20%, respectively.
Hong Kong IPOs booming with $28 cardinal raised
Bitkub’s imaginable listing would grow the Hong Kong exchange’s attempts to pull much listings by non-Chinese companies amid an ongoing IPO boom.
According to the Hong Kong Stock Exchange, Hong Kong raised $216 cardinal Hong Kong dollars ($27.8 billion) from IPOs successful the archetypal 10 months of 2025, an summation of 209% compared to the aforesaid play past year.
Thailand’s apical crypto exchanges by spot store/trading volumes. Source: CoinGeckoHong Kong has go a rapidly expanding marketplace for integer assets, attracting a fig of crypto companies, including the world’s largest Bitcoin ATM operator, Bitcoin Depot.
Related: Crypto slope AMINA gets Hong Kong licence to motorboat organization trading
In October, HashKey Group, the proprietor of Hong Kong’s apical licensed crypto exchange, reportedly filed for an IPO, readying to rise $500 cardinal for a listing expected successful 2026. The imaginable listing would people 1 of the archetypal nationalist listings by a crypto institution locally.
Cointelegraph approached Bitkub for remark regarding its imaginable IPO listing successful Hong Kong, but had not received a effect by the clip of publication.
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