Bithumb Explores Nasdaq Listing as It Aims to Compete with Rivals in U.S. Market
Bithumb, a prominent cryptocurrency exchange in South Korea, is reportedly exploring the possibility of listing on a U.S. stock exchange, specifically Nasdaq.
This news emerged from a recent communication with shareholders, as reported by local media outlet DNews.
Previously, Bithumb had considered a similar initiative in late 2023, aiming for an initial public offering (IPO) on Kosdaq, South Korea’s version of Nasdaq. The motivation behind this IPO was to boost its market presence and compete more effectively with its leading domestic rival, Upbit. Currently, Bithumb ranks as the 18th largest crypto exchange by trading volume, while Upbit has risen to the fifth position.
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After appointing Samsung Securities as the manager for the IPO, Bithumb targeted late 2025 for its Kosdaq debut. However, no timeline has been established for a potential Nasdaq listing at this stage.
A representative from Bithumb emphasized that the company is keeping all options on the table for its listing strategy, considering both domestic and international opportunities. If Bithumb proceeds with a U.S. listing, it would join Coinbase as the only other cryptocurrency exchange on the Nasdaq. Coinbase experienced a notable surge in its stock value upon its debut, with shares jumping over 50% on the first day of trading from the initial reference price.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
