Bithumb considers listing on the Nasdaq: report
Bithumb is South Korea’s second largest crypto exchange.
The company held a shareholder meeting on Sept. 30 and eyes a potential listing on Nasdaq.
Bithumb, the second largest crypto exchange in South Korea, is reportedly considering public listing in the US.
According to a local news report in dnews, Bithumb held an extraordinary shareholder meeting in which the company deliberated on the potential to list on the Nasdaq.
Bithumb considering IPO in 2025
The meeting held on Sept. 30 reviewed the consideration around an initial public offering in the second half of 2025. Also featured on the agenda was the company’s name – with shareholders passing the resolution to change the name from Bithumb Korea to Bithumb. Initially, the exchange went by BTC Korea.com.
News of Bithumb’s plans to go public in the US comes as a few other crypto companies, including Circle, have recently revealed IPO plans. Crypto news provider Wu Blockchain also shared the potentially huge Bithumb move.
Bithumb, South Korea’s second largest cryptocurrency exchange, announced at an extraordinary shareholders’ meeting that it is considering listing on the Nasdaq in the United States, with the goal of listing in the second half of next year, with Samsung Securities as the main…
— Wu Blockchain (@WuBlockchain) September 30, 2024
Bithumb first moved towards the push to become a publicly-traded company in 2020. But with crypto regulatory hurdles and accounting standards unfavourable, the company gave up the KOSDAQ IPO plans.
The exchange is still open to a domestic listing. However, it’s also eyeing an overseas offering given the example of Coinbase.
For its US IPO, the South Korea-based crypto exchange will work with Samsung Securities as the lead underwriter. Bithumb’s market share has hovered between 10% and 20%, and the potential for Nasdaq listing and presence could spark further growth.
