South Korean cryptocurrency exchange Bithumb has put a timeline on its long-discussed plans to go public, announcing that it is targeting an IPO in 2028 as it works to strengthen its corporate governance and financial reporting.
The company has introduced a three-stage roadmap for the listing. This year will focus on improving internal controls and transitioning to Korean International Financial Reporting Standards (K-IFRS), with a preliminary listing review planned for 2027 and the public offering expected to follow in 2028.
The announcement marks the clearest indication yet of when one of South Korea’s largest crypto exchanges hopes to enter the public markets.
Bithumb plans restructuring
To prepare for the listing, Bithumb said it has already completed an important restructuring by spinning off Bithumb Asset into a separate entity.
The company said the move was designed to simplify its corporate structure and reduce potential conflicts of interest, making the business easier for investors and regulators to evaluate.
Bithumb is also working with several domestic and international underwriters as it prepares for the listing process, although it has not disclosed their names.
Rather than presenting the IPO simply as a fundraising exercise, the exchange said it sees the listing as an opportunity to show that cryptocurrency businesses can meet the same standards of governance and transparency expected from traditional financial institutions.
That message comes as crypto companies worldwide face increasing pressure from regulators and investors to improve accountability and corporate oversight.
By adopting K-IFRS, Bithumb hopes to make its financial reporting more transparent and more closely aligned with internationally accepted accounting standards.
Move aims to improve transparency for public market investors
The transition is expected to make it easier for investors to compare the company’s financial performance with other publicly listed businesses.
The listing plans also reflect how South Korea’s crypto industry has evolved in recent years.
The country remains one of the world’s largest digital asset markets, but exchanges now operate under much tighter regulatory oversight than they did just a few years ago. Authorities have introduced stricter compliance requirements, stronger investor protection measures and higher expectations around corporate governance.
Against that backdrop, Bithumb’s roadmap suggests the company is positioning itself for a future in which crypto exchanges are expected to operate much like traditional financial institutions.
A successful IPO would also make Bithumb one of the few major cryptocurrency exchanges in Asia to trade on public markets, potentially giving investors another way to gain exposure to the digital asset industry through listed equities.
For now, however, the company still has several milestones to clear before reaching that point.
Over the next two years, Bithumb will focus on completing its governance reforms, finalizing its transition to international accounting standards and preparing for the regulatory reviews required before a listing can move forward.
If those efforts stay on track, the exchange hopes to ring the opening bell in 2028, marking a new chapter for one of South Korea’s best-known crypto trading platforms.
