Thailand’s Bitkub Eyes $200 Million Initial Public Offering (IPO) In Hong Kong
Thailand's top crypto exchange, Bitkub, is considering a $200 million IPO in Hong Kong as early as 2026 due to a slump in Thai capital markets.Summary
Thailand's leading cryptocurrency exchange, Bitkub, is exploring a strategic pivot to list in Hong Kong for an Initial Public Offering (IPO) valued around $200 million, potentially as early as 2026. This move follows the original plan for a domestic listing on the Stock Exchange of Thailand (SET) being disrupted by a significant slump in the Thai stock market, where the SET Index has dropped nearly 30% this year.
Bitkub, founded in 2018, is Thailand's top centralized crypto exchange with over $800 million in total assets. The shift towards Hong Kong aligns with the region's emergence as a digital asset hub; Bitkub would join other firms like HashKey Group in pursuing a listing there. Despite the capital market challenges, Thailand is actively fostering crypto adoption, notably by suspending capital gains tax on crypto sales via SEC-licensed platforms from 2025 through 2029 to boost economic activity.
(Source：BeInCrypto)