Bithumb headquarters in southern Seoul (Yonhap) Bithumb, South Korea’s second-largest cryptocurrency exchange, said Tuesday it aims to go public by 2028 after strengthening its governance, internal controls and financial reporting.Under its roadmap, Bithumb plans to upgrade its internal control systems and adopt Korean International Financial Reporting Standards this year. It will seek a preliminary listing review in 2027 and target an IPO the following year.The company cautioned that the timetable could change depending on market conditions and the review process.Ahead of the listing, Bithumb plans to bring its risk management and internal controls in line with standards applied to regulated financial institutions. It will also strengthen customer asset management and disclosure practices.The exchange is shifting its accounting from Korean Generally Accepted Accounting Principles to K-IFRS and working with domestic and international securities firms, law firms and accounting firms on the listing.Bithumb completed a corporate split last year, separating its exchange operations from new business ventures. Bithumb continues to operate the cryptocurrency exchange, while Bithumb Asset oversees new businesses and investments.The restructuring was designed to simplify the company’s organization and improve governance by separating its operating and investment functions.Bithumb also plans to reduce its reliance on transaction fees by expanding investments through Bithumb Investment and other affiliates. It said a more diversified revenue base would improve earnings stability and secure liquidity after the listing.The exchange regularly discloses its financial position and cryptocurrency holdings and plans to expand investor communication as it prepares for the IPO.“This IPO is more than a listing,” a Bithumb official said. “It is an effort to raise the transparency and stability of a cryptocurrency exchange to the level expected of regulated financial institutions.”