Bithumb sets 2028 IPO timetable as it overhauls internal controls

South Korean cryptocurrency exchange Bithumb said Monday it plans to apply for a preliminary listing review in 2027 and complete an initial public offering in 2028.Bithumb said it has reorganized its business structure, including spinning off Bithumb Asset, to clarify responsibilities across its business units and reduce potential conflicts of interest ahead of the listing review.The exchange said its preparations will include upgrading internal controls and shifting from domestic accounting standards to K-IFRS, the international accounting framework used by listed companies in South Korea.Bithumb said the timetable could change depending on market conditions and the review schedules of relevant authorities.The exchange is one of five South Korean platforms that support fiat currency trading through real-name bank accounts, offered through its partnership with KB Kookmin Bank.Bithumb’s listing push comes as rival South Korean exchanges deepen their ties with traditional finance and technology groups. Mirae Asset Consulting took control of rival exchange Korbit on July 23, while Upbit operator Dunamu is pursuing a share-swap deal that would make it a wholly owned subsidiary of Naver...