Domestic virtual asset exchange Bithumb said on the 3rd it would complete an initial public offering (IPO) by 2028.
Bithumb said in a notice on its website that it is pursuing an IPO "to maximize corporations value and prove the transparency of management."
Bithumb is aiming this year to enhance internal controls and transition to Korea International Financial Reporting Standards (K-IFRS). It plans to file for a preliminary listing review next year and complete the IPO the year after.
As preparations for listing, it cited establishing a risk management framework at the level of regulated finance, securing management transparency through business restructuring, creating a transparent market environment through disclosure, and carrying out listing procedures in collaboration with external professional institutions.
A Bithumb official said, "An IPO is a proving ground recognized by the market and investors for honesty and sustainability," adding, "It will be an opportunity for virtual asset corporations to be recognized for fair value within regulated finance and to raise the public trust of the entire industry."