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Seoul-based cryptocurrency exchange Bithumb is preparing for an initial public offering (IPO) by reorganizing its corporate structure. According to reports from South Korea’s corporate registry, the company will divide into two entities, with the split taking effect on July 31.
The restructured entity, Bithumb Korea, will exclusively operate the company’s core crypto exchange business and will pursue a public listing on South Korea’s Kosdaq. This move marks a shift from previous considerations of a potential NASDAQ listing, although a U.S. listing remains a secondary objective.
A newly formed division, Bithumb A, will oversee non-exchange-related operations, including venture investments, asset management, and new business initiatives. The unit will consolidate several of Bithumb’s subsidiaries, such as Bithumb Partners and Bithumb Investment. Bithumb Partners has recently pivoted away from NFTs and metaverse ventures, focusing instead on financial product investments including equities, bonds, and convertible bonds. Bithumb is reportedly in talks with licensed financial entities to expand these services domestically.
Bithumb Investment will also fall under Bithumb A, managing equity stakes and strategic partnerships with external firms. This restructuring aims to streamline Bithumb Korea’s exchange operations ahead of the IPO while allowing Bithumb A to innovate and diversify its investment portfolio independently.
Also Read: Filecoin Soars 12% After Bithumb Listing: What’s Driving the Surge?
The restructuring comes on the back of a strong financial rebound. In 2024, Bithumb posted an operating profit of 130.8 billion won (approximately $95 million), reversing a loss of 149 billion won the previous year. The improved financial performance strengthens Bithumb Korea’s case as it heads toward the public market.
This strategic split signals Bithumb’s intent to build investor confidence by separating its regulated crypto exchange business from its riskier investment activities. With the crypto market maturing in South Korea, Bithumb’s IPO preparation reflects the broader industry trend toward greater transparency, regulatory compliance, and institutional growth.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
