Bithumb to Split into Two as Crypto Exchange Nears IPO in South Korea
Sam Reynolds | Edited by Sheldon Reback Updated April 22, 2025, 3:00 PM Published April 22, 2025, 8:04 AM
Bithumb plans to separate its core cryptocurrency exchange business from its other operations in a reorganization aimed at preparing for an initial public offering (IPO).
The Seoul-based company will be split into two, with Bithumb Korea focusing solely on running the cryptocurrency exchange’s core business. Bithumb Korea will be the entity that achieves a public listing, local media reported, citing the country’s corporate registry.
Another division, the newly created Bithumb A, will focus on venture capital investments, asset management, and new business initiatives. The restructuring is set to take effect on July 31.
Bithumb A will consolidate the exchange’s investment arm, including Bithumb Partners, which has shifted its focus from NFT and metaverse projects to investing in financial products such as stocks, bonds, and convertible bonds. According to local media, Bithumb is in talks with licensed entities to provide these services in the country.
Bithumb Investment, which manages shareholdings and strategic partnerships with external companies, will also be controlled by Bithumb A.
Last year, Bithumb was reportedly considering a NASDAQ listing, but its plans have now shifted to a listing on South Korea’s Kosdaq, with a US listing becoming a secondary goal.
According to local media, Bithumb posted an operating profit of 130.8 billion won (US$95 million) in 2024, recouping a loss of 149 billion won incurred the previous year.
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