As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous transformations and listings of companies across various industries. In this case, Bithumb’s decision to explore a listing on the US Nasdaq by mid-2025 is an intriguing development that could potentially shake up the cryptocurrency exchange landscape.
By mid-2025, Bithumb – South Korea’s second-largest digital currency exchange – is considering going public on the US Nasdaq. This prospect was brought up during a shareholders gathering held on September 30, 2024.
1) Samsung Securities is now responsible for overseeing the Initial Public Offering (IPO). The decision to list on the Nasdaq comes from Bithumb’s difficulties in listing on South Korea’s KOSDAQ back in 2020, due to vague regulations and a lack of accounting guidelines for digital assets, which ultimately stopped their attempts.
Bithumb is making changes to better prepare for an Initial Public Offering (IPO). To achieve this, they are concentrating on their core exchange activities and separating their investment and real estate sectors into a new company called “Bithumb A” or “Bithumb Investment.” This move aims to increase the chances of success with the IPO by primarily focusing on the operation of virtual asset exchanges.
A spokesperson for Bithumb mentioned that they are considering various possibilities for their listings, whether it’s within the domestic or foreign markets.
Although it’s suggested, the likelihood of Bithumb being listed on the local stock exchange appears slim due to securities industry analysts’ opinions. An insider source reveals that South Korean financial regulators do not consider virtual assets as financial instruments, hence there are no Bitcoin ETFs available within the country.
A source mentioned, “Given that Coinbase, America’s leading digital currency trading platform, is publicly traded on the NASDAQ, Bithumb might consider expanding abroad instead of listing on the stock market or KOSDAQ.
During a recent shareholders’ meeting, it was decided that Bithumb Korea would be renamed solely as “Bithumb”. This change aims to boost brand recognition by aligning the corporate name with the service name. Earlier, Bithumb had undergone a rebranding in 2019 from BTC Korea.com to Bithumb Korea.
Read More
- Hrithik Roshan’s ex-wife Sussanne Khan shares beautiful birthday wish with pic ft actor’s GF Saba Azad: ‘The best of your talent…’
- Dragon Ball Z’s Spinoff Daima Is Officially Available In English, And I Think Fans Should Be Watching For One Major Reason
- ’28 Days Later’ Gets Official Streaming Date From Sony
- Yami Gautam flaunts her ‘Monday morning happiness’ as she resumes shoot after son Vedavid’s birth; See PIC to find out 2nd reason for her smile
- Dexter: Original Sin Made Me Holler At My TV When That Killer Easter Egg Appeared, And The Creator Shared His Own Excitement
- Deva: Shahid Kapoor starrer’s director Rosshan Andrrews reveals idea behind his character; ‘he has a ‘don’t care’ attitude
- ‘Violent Night 2’ Writers Discuss Who Could Star as Mrs. Claus
- Wolf Man” Director Declares “Invisible Man
- Top gainers and losers
- Zamna In Tulum Is Taking Your Festival Experience To The Next Level
2024-09-30 18:28