Bithumb, South Korea’s second-largest cryptocurrency exchange, is reportedly exploring the possibility of listing on the U.S. Nasdaq exchange, according to a local news report. This move would represent a significant shift for the exchange, which had previously considered an initial public offering (IPO) in South Korea.
Bithumb’s IPO Plans Evolve
Bithumb has been preparing for a potential IPO on South Korea’s Kosdaq in the second half of 2025, with Samsung Securities as its underwriter. However, regulatory challenges in South Korea, where cryptocurrencies are not recognized as legitimate financial products, may have led the company to consider a Nasdaq listing instead. This would allow Bithumb to access a broader market and bypass local regulatory hurdles.
Bithumb currently processes over $574 million in daily trading volume, making it one of the largest crypto exchanges in the region. Its competitor, Upbit, remains the market leader with $1.95 billion in daily trade volume.
Source: The Block
