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Thai Crypto Exchange Bitkub Weighs Hong Kong IPO as Thailand’s Market Slumps

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Thai cryptocurrency trade Bitkub is weighing an preliminary public providing in Hong Kong, in response to individuals accustomed to the discussions, a transfer that might strengthen the town’s push to place itself as a number one digital-asset hub in Asia.

Key Takeaways:

  • Bitkub is exploring a Hong Kong IPO after Thailand’s struggling inventory market dampened prospects for a home itemizing.
  • The trade might search to lift round $200 million, aligning with Hong Kong’s push to draw extra world crypto and tech issuers.
  • A transfer to Hong Kong may present Bitkub a extra supportive regulatory setting as Thailand tightens oversight of its crypto sector.

The Bangkok-based trade, based in 2018 and considered one of Thailand’s most outstanding crypto platforms, had beforehand explored itemizing on the Stock Exchange of Thailand.

However, with the Thai market experiencing considered one of its worst years in current reminiscence, Bitkub is now trying overseas, in response to a Monday report from Bloomberg.

Bitkub Eyes $200M Hong Kong IPO as Thai Market Sinks

The SET Index has dropped about 10% in 2025, whereas newly listed firms have delivered a mean decline of greater than 12%, dampening urge for food for home IPOs.

One supply mentioned Bitkub may pursue a Hong Kong itemizing as early as subsequent yr, focusing on a increase of roughly $200 million. The discussions stay fluid, and the corporate has not publicly commented on the matter.

Hong Kong has been working to revive its standing in world finance by opening the door to regulated crypto buying and selling.

The metropolis has rolled out a proper licensing regime for digital-asset exchanges and is getting ready further rule modifications geared toward attracting each retail and institutional gamers.

Despite these efforts, buying and selling volumes stay modest in comparison with main crypto hubs.

A Bitkub itemizing would bolster Hong Kong’s broader marketing campaign to diversify its IPO pipeline past Chinese companies.

First-time share gross sales within the metropolis are on monitor to achieve their highest degree in 4 years, with proceeds projected to surpass $40 billion in 2025, in response to Bloomberg Intelligence.

As regulatory scrutiny and market weak spot weigh on crypto exercise in Thailand, a Hong Kong IPO might supply Bitkub each a extra favorable market setting and better visibility amongst worldwide traders.

In July, Thailand’s Securities and Exchange Commission (SEC) and the Bank of Thailand introduced plans to launch a regulatory crypto sandbox that may allow overseas vacationers to transform their crypto belongings into baht for spending regionally.

Crypto IPOs Gain Momentum

Last month, tZero Group, a New York–based mostly blockchain infrastructure agency centered on tokenized securities and real-world belongings, announced that it is preparing to go public in 2026.

Before that, BitGo formally filed for an initial public offering, changing into the primary devoted crypto custodian to pursue a list on a US inventory trade.

BitGo’s IPO submitting got here amid renewed momentum for crypto-related public choices.

The digital asset house has seen a number of notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging greater than sevenfold since going public.

Online trading platform Etoro, which gives crypto buying and selling amongst its providers, debuted in May.

In addition, Galaxy Digital, led by Mike Novogratz, moved its itemizing from the Toronto Stock Exchange to Nasdaq earlier this yr.

Gemini, the trade based by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling sturdy market confidence in crypto exchanges going public.

More lately, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.

The submit Thai Crypto Exchange Bitkub Weighs Hong Kong IPO as Thailand’s Market Slumps appeared first on Cryptonews.

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