Bitkub, Thailand’s Largest Crypto Exchange, Sets Sights on 2025 IPO

Bitkub Capital Group Holdings, the main cryptocurrency change in Thailand, has introduced plans to go public on the Inventory Trade of Thailand (SET) in 2025.

Regardless of lowering its headcount by 6% in 2022 and 2023, Bitkub is actively increasing its employees. The change plans so as to add 1,000 staff by 2025, doubling its present workforce of two,000 folks. This aggressive hiring technique displays Bitkub’s ambition to solidify its place because the dominant participant within the Thai crypto market.

As of December 2023, Bitkub holds a 77% market share in Thailand, making it the biggest crypto change within the nation. It handles roughly $30 million in day by day buying and selling volumes. Different notable exchanges in Thailand embrace Upbit and Bitazza. Nonetheless, Bitkub faces rising competitors from each world and native gamers within the Thai market. Binance, a significant world rival, launched its native subsidiary in January 2024 and plans to open to the general public later this yr. Moreover, Kasikornbank, considered one of Thailand’s largest banks, acquired a majority stake within the Satang crypto change in October 2023.

Bitkub beforehand offered a 9.2% stake in its crypto change unit, Bitkub On-line, to Asphere Improvements, a tech holding firm, in July 2023. This stake was valued at 600 million baht ($16.5 million) on the time.

This text comprises hyperlinks to third-party web sites or different content material for info functions solely (“Third-Get together Websites”). The Third-Get together Websites aren’t beneath the management of CoinMarketCap, and CoinMarketCap isn’t chargeable for the content material of any Third-Get together Web site, together with with out limitation any hyperlink contained in a Third-Get together Web site, or any modifications or updates to a Third-Get together Web site. CoinMarketCap is offering these hyperlinks to you solely as a comfort, and the inclusion of any hyperlink doesn’t indicate endorsement, approval or suggestion by CoinMarketCap of the positioning or any affiliation with its operators.
This text is meant for use and should be used for informational functions solely. It is very important do your individual analysis and evaluation earlier than making any materials selections associated to any of the services or products described. This text isn’t supposed as, and shall not be construed as, monetary recommendation.
The views and opinions expressed on this article are the writer’s [company’s] personal and don’t essentially mirror these of CoinMarketCap.