Bithumb, South Korea's second-largest crypto exchange, announced Monday that it is advancing preparations for an initial public offering, with a target completion date in 2028.
In a notice posted on its website, the exchange laid out its multi-year preparation plan for the IPO.
This year, Bithumb will focus on upgrading its internal controls and preparing its transition to comply with the Korean International Financial Reporting Standards (K-IFRS), the country's official accounting framework built on international standards.
The company currently operates on Korean Generally Accepted Accounting Principles (K-GAAP).
In 2027, Bithumb plans to request a preliminary listing review and have its application reviewed by local authorities, and ultimately complete its IPO in 2028.
