Bithumb targets 2028 IPO after a two-year compliance overhaul, switching to global accounting standards and strengthening internal controls before filing for a preliminary review in 2027.
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Bithumb plans to complete its IPO in 2028 after filing a preliminary review during 2027.
The South Korean exchange, the country's second-largest by volume, said the listing is not about raising capital but proving crypto businesses can match the transparency and governance of traditional financial firms. Bithumb is upgrading its accounting standards from K-GAAP to K-IFRS, the global standard used by public companies, and strengthening internal controls before entering the stock market.
"As we prepare for our Initial Public Offering, we would like to share the changes at Bithumb that are becoming safer and more transparent," the exchange said in a notice.
Bithumb outlined six major changes across the business, including better customer asset protection and compliance upgrades. It plans to finish the internal control overhaul and accounting switch in 2026, file for a preliminary listing review in 2027, and target a full IPO in 2028. The final timeline could shift depending on market conditions and regulatory approval, the exchange said.
The announcement signals a broader push for legitimacy in South Korea's crypto sector. If Bithumb's listing succeeds, other domestic exchanges may face pressure to adopt similar standards before going public. The exchange framed the IPO as "a testing ground for trust" and a demonstration that crypto firms can meet the same investor protection expectations as traditional financial institutions.
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