Will Bithumb manage to conquer Nasdaq? The South Korean crypto exchange is about to find out. Indeed, according to a local report, Bithumb, the second largest crypto exchange in South Korea, is considering listing on the Nasdaq exchange in the United States, which would make it a public company in the United States.
Actually, at an extraordinary general meeting of shareholders held on Monday, September 30, Bithumb announced: “We are considering listing on Nasdaq in the United States.”
In this regard, a Bithumb official said: “With regard to listing, all possibilities are open, not only domestically, but also abroad.”
By the way, let us remember that at the end of 2023, rumors arose about a possible Initial Public Offering (IPO) of Bithumb in South Korea, with Samsung Securities as the main candidate to lead the process. Actually, at Monday’s meeting, consideration of an initial public offering in the second half of 2025 was reviewed.
Bithumb, South Korea’s second largest Cryptocurrency exchange, announced at an extraordinary shareholders’ meeting that it is considering listing on the Nasdaq in the United States, with the goal of listing in the second half of next year, with Samsung Securities as the main…
— Wu Blockchain (@WuBlockchain) September 30, 2024
In fact, according to the report, it was highlighted that South Korea’s regulatory stance on cryptocurrencies could have prevented Bithumb from pursuing a listing on Kosdaq, a South Korean stock exchange.
Now, in South Korea, the government does not consider cryptocurrencies to be like regular money. For this reason, they do not allow products that invest directly in them to be bought and sold.
Bithumb: Nasdaq’s Next Star? The crypto market awaits you
Basically, securing a listing on the Nasdaq could position Bithumb as a more regulated and transparent exchange, which could attract institutional investors who have been cautious about entering the crypto world.
The exchange itself, which has assets of more than 400 billion won (about $300 million), is seeking to rebuild public trust after it, along with other exchanges, faced government scrutiny last year.
To all this, the name of the company was also included on the agenda, and shareholders approved the resolution to change the name from Bithumb Korea to Bithumb. Initially, the exchange was called BTC Korea.com.
As a curious fact, the news of Bithumb’s plans to go public in the United States comes as some other crypto companies, including Circle, have revealed their IPO plans.
Finally, Bithumb’s decision to explore new financing options comes at a time when the crypto market faces increased regulatory scrutiny. Could this move open new doors for investors and strengthen Bithumb’s position in the sector? Leave your opinion in the comment box.
I say goodbye with this phrase from Albert Camus: “In the midst of volatility, I discovered that within me there was an invincible investor.”
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