Bitkub Reportedly Eyes Hong Kong IPO Amid Regional Crypto Market Push

Thailand-based cryptocurrency exchange Bitkub is reportedly exploring the possibility of launching an initial public offering (IPO) in Hong Kong, according to sources cited by Bloomberg. People familiar with the discussions said the company may seek to raise around $200 million, potentially as early as next year, though plans remain preliminary and subject to change.

Founded in 2018, Bitkub has grown into Thailand’s largest digital asset exchange, recording a 24-hour trading volume of more than $60 million, based on data from CoinGecko. The platform previously contemplated an IPO in Thailand, but market sentiment and declining performance in the domestic equities landscape prompted the company to reconsider. Thailand’s stock market has struggled significantly in 2025, registering a drop of more than 12% in new listings, while the benchmark index has fallen roughly 10%—conditions that are far from ideal for a major public debut.

Turning its attention to Hong Kong could provide Bitkub with a more favorable environment. The city has been pushing aggressively to position itself as a leading digital asset hub in Asia. Supportive policies from regulators such as the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have helped shape a clearer regulatory structure designed to attract global crypto businesses and institutional players.

Hong Kong’s renewed openness to virtual asset platforms, combined with a growing regional push for compliant digital asset frameworks, makes the market increasingly attractive for exchanges seeking expansion or capital infusion. For Bitkub, a successful IPO in Hong Kong could offer greater visibility, improved investor confidence, and new opportunities to scale beyond Thailand’s maturing crypto ecosystem.

While Bitkub has not issued an official statement on the matter, the potential listing could mark one of the most notable crypto-related IPOs in Asia if the plans move forward. As discussions progress, the crypto community will be watching closely to see how Bitkub navigates shifting market dynamics and regulatory landscapes in its pursuit of international growth.