Bithumb targets 2028 public listing amid governance overhaul

The exchange is currently executing a transition to Korean International Financial Reporting Standards (K-IFRS) and upgrading its internal control frameworks. To facilitate the listing, Bithumb has engaged major accounting firms to refine its risk management and financial reporting systems. The company has also reorganized its corporate structure, spinning off Bithumb Asset to clarify business unit responsibilities and reduce potential conflicts of interest. Chief Financial Officer Jeong Sang-gyun confirmed the 2028 timeline, supported by an advisory agreement with Samjong KPMG that extends through 2027.

Bithumb’s path to the stock market involves a staged transition. By 2026, the firm expects to finalize its internal control improvements and reporting updates. The following year, Bithumb plans to submit a preliminary listing application and complete mandatory audits, leaving 2028 for the final IPO execution. This schedule remains subject to market volatility and regulatory approval timelines. Beyond financial restructuring, the exchange is increasing liquidity reserves and committing to regular public disclosures regarding management decisions and asset holdings to bolster investor trust.

These preparations occur against a backdrop of heightened oversight. South Korean regulators recently penalized the exchange for data transfer violations and anti-money laundering deficiencies. Consequently, the firm is overhauling its compliance procedures to align with evolving local frameworks, including the pending Digital Asset Basic Act. By tightening its governance, Bithumb aims to move beyond recent regulatory friction and establish itself as a transparent, sustainable entity within the competitive landscape of South Korean digital finance.