Thailand’s Bitkub Eyes $200 Million Initial Public Offering (IPO) In Hong Kong

Bitkub, Thailand's apical cryptocurrency exchange, is considering a $200 cardinal archetypal nationalist offering successful Hong Kong arsenic aboriginal arsenic 2026.

This strategical displacement highlights some the challenges facing Thai superior markets and Hong Kong’s emergence arsenic a integer plus hub.

According to reports from Bloomberg, Bitkub had primitively planned a home listing, arsenic mentioned successful a 2023 shareholder letter. By April 2024, it was successful the process of hiring fiscal advisers for a 2025 IPO connected the Stock Exchange of Thailand.

"We are actively preparing for IPO filings, paving the mode for further maturation and entree to capital. This breathtaking measurement volition let america to standard our impact, unlock adjacent greater worth for our shareholders, and further solidify our presumption arsenic a planetary person successful fintech. We are considering listing our institution archetypal successful Thailand, arsenic we purpose to go a pioneering Thai-nationality tech company. This strategical determination aligns with our committedness to democratised Thailand’s worth to everyone," the speech said successful 2023.

However, these plans were disrupted arsenic Thailand’s banal marketplace slumped. The SET Index, the country’s main equity gauge, has dropped astir 30% this twelvemonth to 550.43 points, making it 1 of the worst-performing markets successful 2025. Thai listings person besides faced a weighted mean diminution of much than 12%.

Amid this volatility, Bitkub has started considering planetary options instead. Bloomberg noted that discussions are inactive underway and the last absorption whitethorn shift, according to radical acquainted with the matter.

Founded successful 2018, Bitkub remains Thailand’s starring centralized crypto exchange. It offers 237 coins and 240 trading pairs. The exchange's 24-hour trading measurement is $66.3 million, with USDT/THB arsenic its astir progressive pair. Bitkub’s full assets basal astatine implicit $800 million, and the level has a Trust Score of 7 retired of 10 connected CoinGecko.

With this latest move, Bitkub would articulation HashKey Group successful pursuing a nationalist listing successful Hong Kong. Bloomberg noted that successful October, the firm, which operates the city’s starring licensed cryptocurrency exchange, reportedly submitted paperwork for its ain listing. The steadfast aims to rise astir $500 million, with plans for an IPO arsenic soon arsenic this year.

Hong Kong is simply a booming crypto market. In the archetypal fractional of 2025, full slope transactions successful integer asset-related products and tokenized assets reached $26.1 cardinal Hong Kong dollars. This marked a 233% summation implicit the aforesaid play past twelvemonth and already exceeded the full-year full of past year.