South Korean cryptocurrency exchange Bithumb is reportedly considering a listing on a U.S. stock exchange, as per reports from local outlet DNews. The exchange, which is the second-largest in South Korea based on trading volume, is said to be contemplating a listing on the Nasdaq.
This news comes after Bithumb had previously considered a listing on the Korean equivalent of the Nasdaq, Kosdaq, last year. The initial public offering (IPO) was aimed at increasing the exchange’s market share to compete with its top domestic rival, Upbit. While Bithumb currently ranks 18th in terms of trading volume, Upbit has risen to the fifth position.
Samsung Securities was chosen as the IPO manager for Bithumb’s planned Kosdaq listing, which was scheduled for late 2025. However, no specific timeline has been provided for a potential Nasdaq listing at this time.
An official from Bithumb mentioned in the report that they are open to exploring listing opportunities both domestically and overseas. If Bithumb decides to enter the U.S. market, it would become the second cryptocurrency exchange listed on the Nasdaq, alongside Coinbase. Coinbase experienced a significant increase in value on its first day of trading, with its stocks (COIN) surging over 50% from the initial reference price.
In conclusion, Bithumb’s potential listing on the Nasdaq could mark a significant milestone for the exchange and further establish its presence in the global cryptocurrency market. Investors and stakeholders will be eagerly watching to see how this development unfolds in the coming months.
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