Thailand’s leading cryptocurrency exchange, Bitkub, is making preparations to go public on the Stock Exchange of Thailand in 2025. Bitkub Capital Group Holdings, the company behind Bitkub, is currently in the process of hiring advisors for its upcoming IPO, as reported by Bloomberg.

In a recent interview, Bitkub’s CEO, Jirayut Srupsrisopa, shared that the company aims to raise its profile and secure additional capital through the public offering. This decision follows a significant increase in trading volume experienced by Bitkub, with trade volume in December 2023 doubling compared to December 2022. This growth comes after a challenging period during the crypto winter of 2022.

In a strategic move last year, Bitkub sold a 9.2% stake in Bitkub Online Co. for $16.5 million to Asphere Innovations Pcl. Srupsrisopa expects the valuation of Bitkub Online to rise further, with trading volumes on the platform approaching levels seen in 2021.

Despite facing layoffs in recent years, Bitkub plans to expand its workforce to 3,000 employees by 2025, up from the current 2,000. Since its establishment in February 2018, Bitkub has emerged as a dominant player in the Thailand cryptocurrency exchange market, holding a 75.4% share in 2023 according to data from CoinGecko.

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