Bithumb, one of South Korea’s largest cryptocurrency exchanges, is reportedly planning to go public on the Nasdaq stock exchange in the U.S. This move comes after the exchange postponed its IPO in South Korea.
The South Korean crypto exchange giant reportedly made its surprise announcement during a shareholders’ meeting on September 30th. Additionally, the exchange has reportedly selected Samsung Securities to underwrite its IPO, with the listing tentatively scheduled for the second half of next year.
While the exact reasons for this shift remain unclear, some industry insiders speculate that it could be part of Bithumb’s strategy to expand its global reach. Listing on Nasdaq, one of the world’s most prestigious stock exchanges, could provide Bithumb with greater visibility and access to a wider pool of investors.
This move could also be a response to the regulatory landscape in South Korea, which has been less than welcoming to cryptocurrencies. By listing on Nasdaq, Bithumb could potentially avoid some of the regulatory hurdles it might face in its home country.
However, Bithumb has also stated that a listing on South Korea’s Kosdaq still remains a distinct possibility. It appears that the exchange is keeping its options open and exploring all avenues for its IPO.
Whatever the actual reason might be for their change of plans, one thing is clear: Bithumb is trying to make bold moves to further solidify its position in the market.