Bithumb, South Korea’s second-largest cryptocurrency exchange, said Thursday that it is accelerating preparations for an initial public offering and is aiming to go public in 2028. The company published a multi-year IPO roadmap on its website, marking its first full public outline of the listing plan since delaying its earlier 2025 target. Under the plan, Bithumb will focus this year on strengthening internal controls and converting its accounting standards from Korean Generally Accepted Accounting Principles, or K-GAAP, to Korean International Financial Reporting Standards, or K-IFRS, to meet disclosure requirements for listed firms. It plans to file for a preliminary listing review in 2027, with the formal IPO targeted for 2028, though the exchange said the schedule could still change depending on market conditions and the pace of regulatory review. Bithumb said the listing push is also intended to raise governance transparency and build long-term trust. The exchange has been working with a leading South Korean accounting firm on a risk management framework and has carried out organizational and business restructuring. The company had previously targeted a 2025 listing, but internal control issues became one factor behind the delay after an employee mistakenly distributed about 620,000 BTC to users during a marketing event earlier this year, an incident that drew an investigation from the Financial Supervisory Service.

South Korean crypto exchange Bithumb has announced an initial public offering plan and outlined the steps it says it is taking to get there. According to an official notice cited by PANews, the company aims to finish internal control improvements and preparations for a transition to K-IFRS, or Korean International Financial Reporting Standards, in 2026. It then plans to file a preliminary listing review application in 2027 and complete a formal listing in 2028. Bithumb said it has already begun a series of reforms tied to the IPO process. These include building an institutional finance-level risk management system and using business restructuring to improve management transparency. The exchange said it has carried out structural changes, including the spin-off of Bithumb Asset, to clarify the roles and responsibilities of individual business units. The company also said it is working to strengthen financial stability by broadening its business model and holding liquid assets in reserve. On disclosure, Bithumb said it will regularly publish its financial condition, key management matters, and virtual asset holdings. It added that it is working with external professional firms, including major domestic and overseas securities firms and law firms, while widening investor relations communication channels.