Bithumb has set a 2028 IPO target, with a 2027 preliminary review planned. The South Korean exchange is overhauling accounting standards and internal controls ahead of listing.
Crypto Exchange News
South Korea's Bithumb published a formal timeline Aug. 3 for its planned stock market listing, setting 2028 as its target year for completing an initial public offering. The exchange said it will submit a request for a preliminary listing review to local authorities in 2027.
The announcement marks the first time Bithumb has laid out a year-by-year roadmap for the listing. An earlier target of 2025 was dropped, and the exchange has now committed publicly to the 2028 window, though it noted the schedule depends on market conditions and the pace of regulatory review.
What Bithumb Is Doing Now
The exchange's 2026 work centers on two areas: upgrading internal controls and switching its accounting framework. Bithumb currently reports under Korean Generally Accepted Accounting Principles and is preparing to transition to Korean International Financial Reporting Standards, the country's accounting system based on international standards. A domestic accounting firm is assisting with that transition.
Bithumb also said it has reorganized its business units to separate responsibilities more clearly, reduce conflicts of interest, and make its corporate structure easier to audit. It is working with securities firms, law firms, and accounting firms from both South Korea and abroad on valuation work and legal risk reviews ahead of the 2027 preliminary application.
Related Article: Kiwoom Securities in Talks for Stake in Bithumb Exchange
The Background Behind the Push
The exchange's internal control standards came under scrutiny earlier this year after an employee mistakenly sent roughly 620,000 Bitcoin (BTC), valued at approximately $43 billion at the time, to users during a promotional campaign. South Korea's Financial Supervisory Service opened a probe into the exchange following the error, reviewing its risk management practices.
Bithumb said in its notice that the listing process is "a process of building solid trust so that customers can trade with greater peace of mind." The company said it is also securing liquid assets and diversifying its revenue streams as part of its financial stability preparations. Rival exchange Upbit, operated by Dunamu, is separately pursuing a listing through a planned tie-up with Naver Financial, a subsidiary of South Korean conglomerate Naver.
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