Bithub, Thai’s top crypto exchange, plans IPO in 2025: Bloomberg

The CEO of Bitkub Capital Group, Jirayut Srupsrisopa, disclosed to Bloomberg that the proprietor of the Thai cryptocurrency platform Bitkub Online intends to offer shares to the general public next year. Currently, they are in the process of recruiting financial advisors for this endeavor.

Bitkub Online,

which constitutes approximately 80% of the profits for its parent company based in Bangkok, Thailand, is partially owned (9.2%) by Asphere Innovations. It’s anticipated that the initial public offering (IPO) will value the exchange at approximately 6 billion baht ($165 million), according to Jirayut. This move towards IPO was previously hinted at in a 2023 shareholder letter from Bitkub Capital, though no specific timeline was provided at that time, as reported by Bloomberg.

In a communication distributed to shareholders in February, Bitkub conveyed its exploration of the possibility of listing in Hong Kong as a means to enhance its international presence. Jirayut, in the letter, expressed the company’s dedication to extending its influence beyond Thailand by entering new markets with its inventive offerings.

According to CoinMarketCap data, Bitkub exchange facilitated approximately $81.5 million in spot trading volume within the previous 24 hours.