- Bithumb plans a Nasdaq IPO in 2025, aiming to expand its global presence and strengthen its crypto trading platform.
- Samsung Securities will act as the lead underwriter for Bithumb’s upcoming Nasdaq IPO, expected in the second half of next year.
- Bithumb is rebranding to streamline its corporate identity, dropping Bithumb Korea for the simplified name Bithumb.
Bithumb is preparing for a major global expansion with an initial public offering (IPO) on the Nasdaq market. The announcement comes after it announced its intention to enter the US market through a public offering at an extraordinary shareholders meeting on September 30.
Bithumb Chooses Samsung Securities to Lead IPO
Bithumb has appointed Samsung Securities, the Samsung Group's financial arm, as its primary underwriter for the Nasdaq IPO. Local media reports indicate that the IPO could take place in the second half of next year. This is a big step towards its's goal of extending its influence beyond the South Korean market. The company has a 10% to 20% market share, behind Upbit.
Global Expansion Focus
Bithumb's leadership views the Nasdaq listing as critical to the company's global growth. The proceeds from the IPO will be utilized to expand operations, improve the trading platform, and meet the expanding global demand for digital assets. The IPO is not only centered on the US market, but the company is also looking at other global listing prospects.
A representative from the company stated that there are no restrictions on the number of listings, regardless of whether they are in South Korea or other international markets. This tactic demonstrates it's larger goals of gaining prominence across borders in the competitive bitcoin market.
Rebranding and Restructuring Efforts
Bithumb additionally announced significant changes to its business structure and branding. The company intends to rename itself from Bithumb Korea to just Bithumb. The move indicates a more streamlined approach to its identity as it sets global targets.
Furthermore, the company recently split its Human Resources department to form a separate entity that will manage non-core business operations such as investments and real estate.
As the company prepares for its Nasdaq IPO, the company seeks to establish a greater international presence. It also seeks to expand its operations to suit global demand for cryptocurrency services.
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