Thailand-based digital asset exchange Bitkub is considering an initial public offering (IPO) in Hong Kong, people familiar with the matter told Bloomberg.
The exchange could try to raise about $200 million from the initial public offering, possibly next year, the sources said, adding that discussions are ongoing and details could still change.
Bitkub, founded in 2018, previously considered an IPO in Thailand, but the poor performance of the domestic stock market played a decisive role. Thailand’s stock market, one of the worst performers globally this year, has seen an average drop of more than 12% in share prices in 2025, with the index itself falling 10%.
Bitkub is Thailand’s largest cryptocurrency exchange with a total 24-hour trading volume of $60.75 million, according to data from Coingecko.
Hong Kong is actively seeking to establish itself as the regional hub for digital assets, supported by a clear regulatory roadmap from the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA).
