Thailand’s largest cryptocurrency exchange, Bitkub, is gearing up for an Initial Public Offering (IPO) on the local stock market in 2025. The CEO, Jirayut Srupsrisopa, has announced that the company is currently seeking financial advisors to prepare the necessary documentation and facilitate the listing process.

According to Srupsrisopa, the company’s valuation is expected to surpass $160 million, a significant increase from the $16 million raised during the last private investment round in 2023. He attributes this growth in value to a substantial rise in trading volumes, surpassing even the bullish market of 2021, and the company’s stability in workforce hiring.

Bitkub initially informed investors and shareholders about the public offering in 2023 but refrained from specifying any tentative dates. Earlier, financial firm SCB X PCL had to abandon a private acquisition of a 51% stake in Bitkub due to regulatory pressures