Bithumb has published a formal Bithumb IPO timeline. The plan targets a public listing by 2028.

South Korea’s second-largest exchange framed the listing as a trust-building step. Executives tied each phase to a specific governance target.

A Roadmap Shaped by Past Delays

Bithumb’s listing ambitions have shifted before. The exchange once targeted a debut in the second half of 2025. Management pushed that date back as new obligations piled up.

Shareholders backed CEO Lee Jae-won’s reappointment in March 2026. The vote came weeks after a Bitcoin (BTC) balance-display glitch drew a record fine.

The exchange also operates in a tougher home market. South Korean trading volume recently fell to a two-year low during a Kosdaq market crash. A new 22 percent crypto tax takes effect in 2027. That is the same year Bithumb plans to file its listing review.

The Bithumb IPO Timeline, Stage by Stage

The Bithumb IPO timeline runs in three stages. Each stage maps to a single year rather than a fixed date. Stage one covers 2026. It focuses on internal control upgrades and a shift from domestic accounting rules to the global K-IFRS standard.

Bithumb has also restructured internally, spinning off its asset management unit as a separate entity, Bithumb Asset. The company said the split separates responsibilities and reduces potential conflicts of interest ahead of a listing review.

Stage two opens in 2027. Bithumb plans to file for a preliminary listing review with Korean regulators that year. Stage three targets IPO completion in 2028. However, the notice cautions that the schedule could shift with market conditions or regulatory review timelines.

The exchange has indicated a preference for South Korea’s Kosdaq board. A listing on the larger Kospi market remains possible if conditions change.

The notice also spelled out promises to customers. Bithumb pledged a more transparent governance structure and stronger internal controls.

It also promised better investor protection, more frequent information disclosure, and a sustainable growth foundation as it moves toward institutional-level, global-standard management. The company said these steps aim to show it can operate like a listed company well before shares actually trade.

The plan lands as Japan and South Korea explore a broader digital asset framework. That regulatory shift could smooth Bithumb’s path toward institutional-grade compliance.

Meanwhile, the exchange keeps growing its trading business. Upbit and Bithumb listings sent one small-cap token up nearly 30% in July. That activity shows daily operations continuing alongside the listing push.

Whether Bithumb reaches 2028 on schedule may depend on more than internal readiness. It will also hinge on how regulators respond to a shrinking, more heavily taxed market in the years ahead.

Source: BeInCrypto