South Korean cryptocurrency exchange Bithumb is reportedly telling shareholders that it is considering a US stock exchange listing.
According to local outlet DNewsBithumb told shareholders on Monday that South Korea’s second-largest crypto exchange by trading volume is considering a Nasdaq listing.
The exchange reportedly considered a similar move for Korea’s Nasdaq equivalent Kosdaq late last year. At the time, it was reported that the IPO was aimed at increasing the company’s market share to overtake its largest domestic competitor, Upbit. While Bithumb is the 18th largest crypto exchange by trading volume, Upbit has risen to number five.
After choosing Samsung Securities to manage the initial public offering (IPO), Bithumb set a late 2025 date for its Kosdaq listing. No such schedule has yet been established for a listing on the Nasdaq.
A Bithumb official said in the report:
“In terms of listing, all options are open, not only domestically but also abroad.”
If Bithumb were to enter the US market, they would join Coinbase as the only other crypto exchange listed on the Nasdaq. Coinbase, in turn, saw a significant increase in value when it went public. On its first day of trading, Coinbase (COIN) shares saw a rise of more than 50% from its starting reference price.
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