Cryptocurrency “Bissam” promotes industry’s first IPO = South Korea

According to investment banks (IBs) and the crypto asset industry, Bithumb Korea, which operates the virtual currency Bithumb, will begin procedures for an initial public offering (IPO) with Samsung Securities as the managing company at the end of October.
started. Aiming for listing in the second half of 2025. Initially, the company aims to list on the KOSDAQ market, but depending on the situation, it may change to the securities (KOSPI) market.
Although Bithumb Korea did not say much about this IPO, it did admit that ``it is true that we have decided on the host company.''
According to this year's semi-annual report, the company has financial product assets of over 400 billion won (approximately 45,910,750,000 yen).
It can be seen that there is no need to raise funds at this time. If we do not increase trust from the market more than funds, we are at risk of surrendering the number one market position to other companies such as Upbit.
It is thought that this feeling is behind this IPO. According to sources, Lee Jung-hoon, chairman of the board of directors of Bithumb Korea and Bithumb Holdings, has returned as a registered director.
Ta. Instead, CEO Lee Sang-joon, who was suspected of fraudulent solicitation, was removed from the board of directors. The representative of Bithumb Holdings is Lee Jae Woo of Bithumb Korea, who was selected by Chairman Lee.
The representative will also serve as the representative. In order to make the IPO a success, Chairman Lee is expected to increase his control and improve internal controls.