The South Korean cryptocurrency exchange Bithumb recently announced that it has reorganized its subsidiary Bithumb Meta into Bithumb Partners and increased its capital to 30 billion won (approximately 23 million USD). This reorganization is seen by the market as a step for Bithumb to prepare for an IPO. Previously, investors such as LG CNS, CJ OliveNetworks, and SK Square had liquidated their shares in the second half of last year.

The newly established Bithumb Partners will focus on short-term investment businesses such as stocks and convertible bonds, similar to the investment company plan that Bithumb announced in March last year but later canceled. Bithumb stated that it chose to reorganize rather than establish a new company mainly to save time costs. In the future, Bithumb Partners may expand its role to become a strategic or financial investor.