Bithumb to Split in Two as Crypto Exchange Inches Toward South Korean IPO

Bithumb, one of the most popular cryptocurrency exchanges in South Korea, is planning a big change. The company wants to split into two separate businesses to get ready for a public listing. This means people could buy shares of the company in the future. Splitting the business will help each part focus on what it does best.

What Are the Two New Companies?

  1. Bithumb Korea: This part of the company will focus only on running the cryptocurrency exchange. It will handle buying, selling, and trading digital money like Bitcoin and Ethereum. Bithumb Korea is the part that will aim for an IPO, which stands for Initial Public Offering. This means it plans to sell shares on South Korea’s Kosdaq market, which is like a big store where people can buy and sell pieces of companies.

  2. Bithumb A: This new company will work on other projects like investments, asset management, and starting new businesses. One of its big jobs will be managing Bithumb Partners, which is already part of Bithumb. Bithumb Partners used to focus on NFTs (digital collectibles) and the metaverse (virtual worlds), but now it’s moving to work on things like stocks and bonds. These are types of investments that are more traditional.

Why Is Bithumb Making This Change?

The company’s goal is to become more organized and make each part of the business stronger. By splitting into two, Bithumb can show investors that it’s serious about growing and making money. Investors like companies that are focused and easy to understand. This split will make it clear what each part of Bithumb does.

The restructuring—which is what they call this kind of change—is set to happen on July 31, 2025. After this date, the two new companies will officially start operating as separate businesses.

Aiming for the Stock Market

Bithumb Korea will be the company going public. This means people will be able to buy and sell shares of it. At first, Bithumb plans to list on South Korea’s Kosdaq market, which is great for technology and finance companies. However, the company hasn’t ruled out listing on the Nasdaq in the United States later on. Nasdaq is one of the biggest stock markets in the world.

How Is Bithumb Doing Financially?

Bithumb’s financial situation has improved a lot recently. In 2024, the company made an operating profit of 130.8 billion won, which is about $95 million. This is a big change from 2023 when it lost 149 billion won. This turnaround shows that the company is growing and becoming more successful.

What Will Bithumb A Do?

Bithumb A, the second company, will be in charge of exciting new opportunities. It will manage investments in different areas, including:

  • Stocks and Bonds: These are traditional investments that many people trust.

  • Asset Management: Helping people and businesses grow their money over time.

  • New Business Ideas: Exploring opportunities in areas like fintech (financial technology) and blockchain (the technology behind cryptocurrencies).

By focusing on these areas, Bithumb A will help the overall company stay competitive and innovative.

The Benefits of Splitting the Company

This move is expected to bring many benefits:

  • Better Focus: Each company will have clear goals, making it easier to succeed.

  • Attracting Investors: Investors like companies that are well-organized and have a strong plan. The split will show that Bithumb is serious about growing.

  • Improved Management: By dividing responsibilities, each part of the business can be managed more effectively.

Looking Ahead

This is an exciting time for Bithumb. The split into two companies shows that it is thinking about the future and making smart moves to grow. With its financial success in 2024 and its plans for an IPO, Bithumb is setting itself up to be a leader in the cryptocurrency world.

As the company moves forward, it will be interesting to see how these changes affect its growth and success. Will Bithumb Korea become a top player in the stock market? Will Bithumb A find new and exciting ways to invest and grow? Only time will tell, but things are looking very positive for Bithumb and its future.

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