South Korean cryptocurrency exchange Bithumb has reaffirmed its plans to go public by 2028, announcing a multi-year roadmap centred on governance reforms, stricter compliance standards, and greater transparency as it prepares for an initial public offering (IPO).
In a statement to customers, the exchange said the listing is intended to strengthen trust in both the company and South Korea’s virtual asset industry. Bithumb said it is restructuring its operations to meet institutional finance standards, including transitioning from Korean Generally Accepted Accounting Principles (K-GAAP) to Korean International Financial Reporting Standards (K-IFRS).
The company also said it is working with domestic accounting firms, securities firms, and law firms to strengthen internal controls, improve risk management, and prepare for regulatory review. Bithumb plans to complete its internal reforms in 2026, apply for a preliminary listing review in 2027, and complete its IPO in 2028. However, it noted that the timeline could change depending on market conditions and regulatory approvals.
What an IPO could change for Bithumb’s customers
For most users, an IPO does not change how an exchange works day to day, but it can introduce higher levels of accountability. Publicly listed companies are subject to ongoing reporting obligations, external audits, and shareholder scrutiny, making it more difficult to withhold material information or make major business decisions without disclosure.
A listed status can also influence how institutions, banking partners, and corporate clients view an exchange. Companies that meet public market standards often find it easier to build partnerships and attract institutional participation, which can strengthen liquidity, expand services, and reinforce confidence among users without changing the core trading experience.
Why crypto exchanges are turning to public markets
An IPO has become more than a fundraising event for major cryptocurrency exchanges. Going public can give cryptocurrency exchanges access to long-term funding without relying primarily on trading fees or private investors. Fresh capital can be used to expand into new markets, develop products, pursue acquisitions, and strengthen infrastructure as competition among global exchanges intensifies.
A public listing can also increase an exchange’s shareholder base by allowing institutional investors, pension funds, and retail investors to own stakes in the business through stock markets rather than private funding rounds. Bithumb’s roadmap shows that direction, showing that governance and transparency are becoming as important as trading volumes in determining how leading crypto exchanges compete in regulated financial markets.
Meanwhile, South Korean police carried out another search of crypto exchange Bithumb as part of an ongoing investigation into allegations involving independent lawmaker Kim Byeong-gi.
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