Bitkub Capital Group Holdings, the parent company of Thailand's largest cryptocurrency exchange Bitkub, has announced plans to go public in 2025. The company has hired financial advisors for this impending transition.

According to a recent interview quoted by Bloomberg, Bitkub’s CEO, Jirayut Srupsrisopa, unveiled the ambitious strategy. Srupsrisopa noted that the company will be listed on the Stock Exchange of Thailand to enhance the visibility of its brand and to raise capital for business expansion.

Competition Intensifies in Southeast Asia

As Bitkub prepares for its IPO, there is growing competition in Southeast Asia's crypto market. Rivals, such as Binance and Kasikornbank Pcl, have been actively vying for market share in the region. The surge in active crypto trading accounts in Thailand, reaching 238,000 in March, reflects the growing interest and participation in the sector.

Bitkub is reportedly expanding its workforce with the aim of increasing its headcount to 3,000 by 2025 in anticipation of the IPO. Despite regulatory challenges, including the scrapping of a proposed acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term by SCB X Pcl, Bitkub is eying expansion in Southeast Asia.

Last year, Bitkub sold a stake in Bitkub Online Co., boosting its valuation. Bitkub Online accounts for a significant portion of Bitkub Capital's earnings. Thus, the company expects to grow its trading volumes after the IPO.

Recently, Thailand's Securities and Exchange Commission (SEC) authorized asset management firms to venture into digital assets by launching private funds dedicated to investing in US-listed Bitcoin ETFs. While retail investors are excluded from participating, institutional investors and ultra-high-net-worth individuals have the opportunity to invest in Bitcoin through regulated channels.

Bitkub Eyes Growing Crypto Market in Thailand

The decision to permit investment in Bitcoin ETFs occurred after careful deliberation by the Thai SEC, acknowledging the heightened interest in cryptocurrencies amid a bullish market. With Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term soaring to unprecedented highs, recently surpassing $70,000, institutional demand for digital assets has surged in Thailand.

Despite the enthusiasm surrounding Bitcoin ETFs, regulators remain cautious, citing the inherent risks associated with digital assets. While the US has paved the way for such investment vehicles, Thai regulators initially expressed reservations due to the nascent nature of Bitcoin ETFs and their potential implications for the local market.

However, the classification of ETFs as securities rather than digital assets has paved the way for Thai securities firms to facilitate trading, expanding the investment landscape. The Thai regulator aims to foster greater financial inclusion and diversification opportunities by providing institutional investors with regulated access to Bitcoin.