Share this article
Thai Crypto Exchange Bitkub Plans 2025 IPO: Bloomberg
The exchange's owner signaled its intention to sell shares to the public in a 2023 letter that didn't give a timeframe.
Updated Apr 11, 2024, 2:56 p.m. Published Apr 1, 2024, 10:41 a.m.
Make us preferred on Google
- Bitkub Capital, the owner of crypto exchange Bitkub Online, plans to sell shares to the public next year.
- The IPO is expected to value the exchange at more than 6 billion baht ($165 million), CEO Jirayut Srupsrisopa told Bloomberg.
The owner of Thai crypto exchange Bitkub Online plans to sell shares to the public next year and is in the process of hiring financial advisers, Bitkub Capital Group CEO Jirayut Srupsrisopa told Bloomberg.
Thailand's biggest crypto exchange provides about 80% of the Bangkok-based parent's profit and is 9.2% owned by Asphere Innovations. The initial public offering (IPO) is expected to value the exchange at more than 6 billion baht ($165 million), Jirayut said. Bitkub Capital had signaled its intention to sell shares to the public in a 2023 letter to shareholders that didn't give a timeframe, Bloomberg said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Demand for access to cryptocurrency trading accounts has climbed alongside the gains in bitcoin , which has advanced 57% this year while the CoinDesk 20 Index, a measure of the broader crypto market, added 49%. Last month, the number of active accounts in the country reached the highest level since September 2022, Bloomberg said, citing data from the country's Securities and Exchange Commission (SEC).
Bitkub is also facing increased competition. In January, Binance Thailand – a venture of the world's largest crypto exchange by trading volume and Gulf Innova – opened for business.
A 2022 plan for Siam Commercial Bank (SCB), Thailand’s oldest lender, to buy 51% of Bitkub Online for 17.85 billion baht was canceled after the SEC suppered the deal. In September 2022, Bitkub was included in a group sued by the SEC for allegedly artificially inflating trading volumes.
CORRECTION (April 11, 14:56 UTC): Corrects IPO valuation to more than 6 billion baht, which referred to the level attained in an earlier transaction.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
