Bithumb to Split in Two as Crypto Exchange Inches Toward South Korean IPO

A filing connected the country's firm registry shows the speech registered a caller entity successful mentation for an IPO.

Apr 22, 2025, 8:04 a.m.

Bithumb plans to divided its halfway crypto speech concern from different activities arsenic it reorganizes successful mentation for an archetypal nationalist offering (IPO).

The Seoul-based institution volition divided successful two, with Bithumb Korea focusing solely connected operating the halfway crypto speech business. Bithumb Korea volition beryllium the entity seeking a nationalist listing, local media reported, citing the country’s firm registry.

The different unit, a recently created institution called Bithumb A, volition oversee task investments, plus absorption and caller concern initiatives. The restructuring is acceptable to instrumentality effect connected July 31.

Bithumb A volition consolidate the exchange's concern arms, including Bithumb Partners, which has shifted from NFT and metaverse projects to fiscal merchandise investments specified arsenic equities, bonds and convertible bonds. According to section media, Bithumb is successful talks with licensed entities to connection these services successful the country.

Bithumb Investment, which manages equity stakes and strategical partnerships with outer companies, volition besides autumn nether Bithumb A’s oversight.

Last twelvemonth Bithumb was said to beryllium considering a NASDAQ listing, but present its plans person shifted to a listing connected South Korea’s Kosdaq first, with a U.S. listing arsenic a secondary objective.

Bithumb posted an operating nett of 130.8 cardinal won ($95 million) successful 2024, reversing a 149 billion-won nonaccomplishment from the erstwhile year, section media reported.

Sam Reynolds