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Bithumb lays out roadmap for 2028 IPO after K-IFRS shift
The exchange said it will upgrade internal controls and prepare to move from K-GAAP to K-IFRS in 2026, then seek a preliminary listing review in 2027.
South Korean crypto exchange Bithumb has published a three stage roadmap aimed at an initial public offering in 2028, laying out steps to strengthen governance and risk controls ahead of a possible listing review. According to Decrypt, the plan calls for internal controls upgrades and preparation to switch accounting standards in 2026, followed by a preliminary listing review filing in 2027, with the IPO targeted for 2028.
The company said it is rebuilding risk management to meet standards expected of regulated financial firms and preparing to move from Korean accounting standards K-GAAP to global K-IFRS. Bithumb also said it is strengthening compliance monitoring to an institutional finance level, splitting off Bithumb Asset to separate business lines and reduce conflicts of interest.
Bithumb’s timeline comes amid regulatory and legal pressure. Decrypt reports that South Korean regulators fined the exchange $24.5 million in March and ordered a six month partial suspension over anti-money laundering and know-your-customer failures, though a court later blocked the suspension after Bithumb challenged it.
The exchange has also faced operational and criminal investigations, including a February display error that credited thousands of users with Bitcoin they did not own, and a June booking of CEO Lee Jae-won as a bribery suspect tied to alleged hiring practices. Bithumb said its IPO timetable could shift based on market conditions and the pace of review, and it promised ongoing disclosures of its finances and its crypto holdings.
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