Bitkub Capital Group Holdings, Thailand’s largest cryptocurrency exchange, is preparing for an initial public offering (IPO) in 2025, Bloomberg News reported, citing CEO Jirayut Srupsrisopa.
Jirayut, also known by his business name Topp, said the IPO is expected to raise awareness for the company and help raise capital. The company is currently hiring financial advisors for its IPO. report said.
The Bitkub CEO said the value of the Bitkub online cryptocurrency exchange will rise further as trading volume has surpassed previous bull cycle levels in 2021. The cryptocurrency trading platform is currently valued at 6 billion baht ($165 million). report.
Bitkub did not immediately respond to The Block’s request for further comment.
in letter Posted in February, Bitkub told shareholders that the company was also exploring the possibility of listing in Hong Kong to increase its global visibility. “We are committed to entering new markets with innovative solutions and expanding our business reach beyond Thailand,” Jirayut said in the letter.
Bitkub exchange said it processed around $81.5 million in spot trading volume in the last 24 hours. data From CoinMarketCap.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.