Crypto Exchange Bithumb Considering Public Listing on Nasdaq: Report
South Korean crypto exchange Bithumb is reportedly telling shareholders that it is mulling a U.S. stock exchange listing.
According to local outlet DNews, Bithumb told shareholders on Monday that South Korea’s second-largest crypto exchange by trading volume is mulling a Nasdaq listing.
The exchange reportedly considered a similar move late last year for the Korean Nasdaq equivalent Kosdaq. At the time, it was reported that the IPO was geared toward increasing the firm’s market share to catch up to its top domestic competitor, Upbit. While Bithumb is the 18th-largest crypto exchange by trading volume, Upbit has climbed up to number five.
After choosing Samsung Securities as the initial public offering (IPO) manager, Bithumb set a date for late 2025 for its Kosdaq listing. No such schedule has been put forth for a Nasdaq listing, yet.
Stated a Bithumb official in the report,
“Regarding listing, all possibilities are open, not only domestically but also overseas.”
If Bithumb were to enter the US market, they would join Coinbase as the only other crypto exchange listed on the Nasdaq. Coinbase, for its part, saw a significant increase in value upon going public. On the first day of trading, Coinbase stocks (COIN) saw an over 50% increase from its starting reference price.
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