Bithumb is targeting an initial public offering after 2028 as it works to strengthen internal controls and meet regulatory requirements following earlier delays.
The South Korean exchange will focus on IPO preparations through 2027, having previously aimed to list in 2025 before compliance and restructuring challenges emerged.
Bithumb CFO Jeong Sang-gyun said the company is “strengthening accounting policies and internal controls” as part of its listing preparations.
The exchange has faced regulatory pressure, including a six-month suspension and a $24 million fine related to anti-money-laundering violations.
The delay comes as competition intensifies, with rival Dunamu, operator of Upbit, also exploring a public listing following a share swap with Naver Financial.
Following the announcement the Bithumb IPO timeline was pushed back to after 2028.
The company also faced operational issues earlier this year after mistakenly crediting users with Bitcoin instead of Korean won, briefly inflating balances on its platform.
The broader regulatory landscape in South Korea remains uncertain, with ongoing discussions around crypto taxation and stablecoin legislation shaping the industry outlook.