South Korean cryptocurrency exchange Bithumb is gearing up for an initial public offering (IPO) on the Korean Securities Dealers Automated Quotations (KOSDAQ) by the second half of 2025. This strategic move is a response to recent industry challenges and is expected to enhance public trust in the cryptocurrency market.
Bithumb has selected Samsung Securities as the underwriter for its IPO, signaling a significant step toward its listing on KOSDAQ. The company’s aim is to rebuild public trust and reclaim the top spot in Korea’s digital asset exchange market.
Former Chairman Lee Jeong-hoon has made a comeback, enhancing confidence in Bithumb’s management team as the company prepares for its IPO. This move follows allegations related to fraud concerning Bithumb’s acquisition, from which Lee Jeong-hoon was exonerated earlier this year.
The ongoing preparations for the IPO are aligning with Bithumb’s vision to become the first crypto-related company listed on KOSDAQ. The company is dedicated to securing a leading position in South Korea’s digital asset exchange market, both in terms of trading volume and public trust.
In a significant strategic shift, Bithumb is making efforts to position itself at the forefront of South Korea’s cryptocurrency industry, a move anticipated to attract institutional investors and instill confidence among retail investors and new adopters. This follows the footsteps of Upbit, a major player in South Korea’s crypto landscape.
As the company presses ahead with its plans for an IPO, investors and industry observers eagerly await Bithumb’s potential listing on KOSDAQ and its long-term impact on the Korean crypto market.
## Frequently Asked Questions (FAQs)
### What is Bithumb’s IPO plan?
Bithumb, a South Korean cryptocurrency exchange, is preparing for an initial public offering (IPO) on the Korean Securities Dealers Automated Quotations (KOSDAQ) by the second half of 2025.
### Why is Bithumb planning an IPO?
Bithumb’s decision to go public is a strategic response to recent industry challenges, such as hacks and collapses. By subjecting its operations to external validation, the company aims to build public trust in the cryptocurrency market.
### Who is the underwriter for Bithumb’s IPO?
Bithumb has selected Samsung Securities as the underwriter for its IPO, marking a significant step toward its listing on KOSDAQ.
### What is the significance of Lee Jeong-hoon’s return to Bithumb?
Former Chairman Lee Jeong-hoon, the largest shareholder, has returned to the board of directors. This move is aimed at instilling confidence in the management team and bringing a sense of stability as the company gears up for its IPO.
### What impact is Bithumb’s IPO expected to have on the Korean crypto market?
Bithumb’s IPO is anticipated to attract institutional investors and boost confidence among retail investors and new adopters, potentially influencing the landscape of the Korean cryptocurrency market.