Bithumb's lounge in Gangnam, Seoul. [Yonhap]
Bithumb's lounge in Gangnam, Seoul. [Yonhap]

Bithumb unveiled a phased initial public offering roadmap Monday, targeting a stock market listing in 2028. The cryptocurrency exchange plans to complete upgrades to its internal controls and prepare for a transition to Korean International Financial Reporting Standards this year, undergo a preliminary listing review next year, and finalize its IPO in 2028.

Bithumb announced the roadmap in a public notice Monday afternoon, saying it aims to complete the IPO by 2028. However, it said the timeline could be adjusted depending on market conditions and the schedules of relevant regulatory bodies.

As a first step, Bithumb said it will upgrade its customer asset management system to prioritize the safety of customer assets and the reliability of transactions. The company plans to overhaul its internal control framework and strengthen its asset protection systems to improve transaction stability. It also intends to diversify its revenue streams and shore up its financial health to build a stable growth foundation resilient to market volatility.

Bithumb also plans to establish a management framework aligned with global capital market standards. The exchange said it will adopt Korean International Financial Reporting Standards and build advanced disclosure infrastructure to improve accounting transparency and complete a management system that global investors can trust. On that basis, it plans to further upgrade its corporate governance and disclosure practices to meet the standards expected of a listed company.

Bithumb said it views the IPO not merely as a fundraising exercise but as an opportunity to fundamentally improve the company. "We will build a trading environment where customers can use our services with confidence, while at the same time growing into a company that fulfills its social responsibilities — further cementing our standing as South Korea's leading virtual asset exchange," the company said.


forest@heraldcorp.com