Bithumb delays IPO to 2028 with new three-phase roadmap

Bithumb has delayed its IPO to 2028, outlining a three-phase plan focused on internal upgrades, regulatory compliance, and a preliminary listing review.

Bithumb, one of South Korea’s largest cryptocurrency exchanges, has announced a revised plan to pursue an initial public offering (IPO) by 2028. The company’s new three-phase roadmap includes upgrading internal controls and transitioning to Korean International Financial Reporting Standards (K-IFRS) by 2026, submitting a preliminary listing application in 2027, and targeting an official listing in 2028. This updated schedule marks a delay from previous targets, reflecting ongoing regulatory challenges, operational restructuring, and market uncertainties. Bithumb is implementing institutional-level risk management, spinning off its Bithumb Asset subsidiary to optimize governance, and collaborating with domestic and international securities, law, and accounting firms. The exchange’s IPO ambitions are accompanied by promises of greater transparency, regular financial disclosures, and enhanced investor protection. The timeline remains subject to change based on market conditions and regulatory reviews, and Bithumb’s valuation target may be reassessed due to shifting benchmarks. This is the third time Bithumb has postponed its IPO plans.