- In 2025, Bithumb aims to go worldwide by listing on the Nasdaq.
- To win back investor faith, the exchange effortlessly overcomes previous regulatory obstacles.
South Korean cryptocurrency exchange Bithumb has made it official that it plans to explore listing on the US Nasdaq in 2025. This bold statement, which marked a strategic shift for Bithumb and brought attention to the continued difficulties encountered by Bitcoin platforms in South Korea, was delivered during a crucial shareholders meeting.
Bithumb’s intention to pursue a US listing is particularly fascinating, given its previous attempt to list on the KOSDAQ market in 2020. When Samsung Securities was picked as its underwriter. The ideas are on hold due to the uncertainty of virtual asset accounting and regulatory norms.
The firm ambition is to adopt a more favorable regulatory climate is reflected in the entry to the Nasdaq, which may enable it to access a significant amount of foreign investors. The exchange wants to start an Initial Public Offering (IPO) in the second half of 2025. And this proposal aligns with that goal. Participants at the meeting said that Bithumb is considering all of its IPO options. By showing its commitment to change in the cryptocurrency market.
Regulatory Obstacles in South Korea
Experts claim that South Korea’s regulatory environment had a significant impact on Bithumb’s decision to look into a Nasdaq listing. In terms of cryptocurrency legislation, the South Korean government has taken a cautious approach and has refused to acknowledge cryptocurrencies as real financial instruments. Earlier this year, the country imposed Travel Rule regulations on crypto firms, preventing the introduction and trading of exchange-traded products featuring spot crypto assets.
The digital current orb project, Worldcoin, came under heavy pressure in March from the Personal Information Protection Commission (PIPC) to comply with the agency’s standards.
With approximately $574 million in trade volume processed in a 24-hour period, Bithumb is the second-largest crypto trading platform in South Korea, and it continues to be a major participant in the industry despite these legal obstacles.
With an incredible $1.95 billion in trade volume over the same period, Upbit, a local rival, is leading the industry in contrast. If Bithumb manages to successfully navigate its IPO process, this competitive landscape highlights the growth possibilities that the company might leverage.
