Bithumb, a Seoul-based cryptocurrency exchange, said on August 3 it is preparing for a 2028 initial public offering after reorganising its business and tightening controls to meet domestic and international accounting standards.

The company plans to complete risk assessments by the end of 2026 and seek a preliminary listing review in 2027. The timeline could change depending on market conditions and regulatory reviews.

Bithumb is South Korea’s second-largest cryptocurrency exchange, accounting for 25.8% of domestic trading volume in the first half of 2025 and 37% of users, behind Upbit.

As part of a 2025 split in two, Bithumb Korea became the entity for the core exchange business and the planned listing, while Bithumb A took on venture investments, asset management, and new business initiatives.

The IPO follows regulatory scrutiny after a staff error sent 620,000 bitcoin instead of 620,000 won (US$433), prompting South Korea’s Financial Supervisory Service to open a full investigation.

Separately, reports have linked Dunamu, Upbit’s operator, to a possible Nasdaq IPO.

🔗 Source: CoinDesk