Bithumb Moves Forward With 2028 IPO Goal, Detailing Its Long‑Term Preparation Roadmap

TL;DR

• Bithumb officially confirmed it is targeting the completion of its initial public offering in 2028, with a preliminary review scheduled for 2027.
• The South Korean exchange will transition from K-GAAP to K-IFRS accounting standards and is working with auditing, legal, and investment banking firms.
• An internal error in 2025, in which an employee mistakenly distributed 620,000 BTC valued at approximately $43 billion, complicated the regulatory process that had been underway.

South Korea’s second-largest cryptocurrency exchange, Bithumb, confirmed that it is moving forward with an initial public offering targeting 2028. The company published a notice on its website detailing a staged preparation plan that includes improvements to internal controls, an accounting transition, and a preliminary regulatory review in 2027.

This year, the focus is on two simultaneous objectives: strengthening internal control systems and migrating from general Korean accounting standards (K-GAAP) to the Korean International Financial Reporting Standards (K-IFRS), the official framework aligned with global standards. For this process, the company is working alongside a top-tier local auditing firm.

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