Bithumb sets 2028 IPO target with governance overhaul plan

Bithumb has outlined a roadmap to complete its initial public offering in 2028 after detailing upgrades to its governance, financial reporting, and internal control systems. Summary Bithumb has outlined a roadmap to complete its IPO in 2028 after upgrading governance, compliance, and financial reporting systems. The exchange plans to finish its K IFRS transition and internal control improvements in 2026 before seeking listing approval in 2027. Bithumb said it is restructuring its business, strengthening risk management, and expanding disclosures to support a public listing. The IPO preparations continue as the exchange works through recent privacy and anti money laundering compliance actions in South Korea. According to Bithumb, the South Korean cryptocurrency exchange is working with leading domestic accounting firms to build a risk management framework, convert its financial reporting from Korean Generally Accepted Accounting Principles (K-GAAP) to Korean International Financial Reporting Standards (K-IFRS), and strengthen internal compliance and internal control processes as part of its IPO preparations. The company said it has also reorganized parts of its corporate structure b...