Analysis

Crypto Exchange Bithumb Considering Public Listing on Nasdaq: Report

Published

1 year ago

September 30, 2024

South Korean cryptocurrency change Bithumb is reportedly telling shareholders that it’s contemplating a US inventory change itemizing.

In line with native outlet DNewsBithumb informed shareholders on Monday that South Korea’s second-largest crypto change by buying and selling quantity is contemplating a Nasdaq itemizing.

The change reportedly thought of an identical transfer for Korea’s Nasdaq equal Kosdaq late final 12 months. On the time, it was reported that the IPO was geared toward rising the corporate’s market share to overhaul its home largest competitor, Upbit. Whereas Bithumb is the 18th largest crypto change by buying and selling quantity, Upbit has risen to quantity 5.

After selecting Samsung Securities to handle the preliminary public providing (IPO), Bithumb set a late 2025 date for its Kosdaq itemizing. No such schedule has but been established for an inventory on the Nasdaq.

A Bithumb official stated within the report:

“When it comes to itemizing, all choices are open, not solely domestically but in addition overseas.”

If Bithumb had been to enter the US market, they’d be a part of Coinbase as the one different crypto change listed on the Nasdaq. Coinbase, in flip, noticed a major improve in worth when it went public. On its first day of buying and selling, Coinbase (COIN) shares noticed an increase of greater than 50% from its beginning reference value.

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