Thai Crypto Exchange Bitkub Weighs Hong Kong IPO: Report
Analysis
Price Impact
MedAn ipo by a major regional crypto exchange like bitkub, seeking to raise $200 million in hong kong, signals growing institutional confidence and maturity in the crypto market infrastructure. this move indicates a pathway for more traditional capital to enter the digital asset space, particularly in asia.
Trustworthiness
HighThe report is from coindesk, a reputable crypto news source, citing bloomberg, which is a highly credible financial news agency, with direct quotes from 'people familiar with the matter'.
Price Direction
Neutral to bullishWhile not directly affecting specific coin prices short-term, a successful ipo for a crypto exchange adds legitimacy and infrastructure to the broader market. hong kong's active push to become a digital asset hub further supports this, potentially increasing overall market confidence and attracting new capital. this is a foundational development that bodes well for long-term growth and adoption.
Time Effect
LongThe ipo is anticipated for 'next year', meaning any direct market effects from the capital raise and increased institutional participation would manifest over the medium to long term, as the exchange expands and integrates further into financial ecosystems.
Original Article:
Article Content:
Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Thai Crypto Exchange Bitkub Weighs Hong Kong IPO: Report Thailand-based Bitkub is considering an IPO in Hong Kong to raise approximately $200 million. By Omkar Godbole , AI Boost | Edited by Sam Reynolds Nov 24, 2025, 8:16 a.m. Bitkub weighs Hong Kong IPO. (Chris Lam/CoinDesk) What to know : Thailand-based Bitkub is considering an IPO in Hong Kong to raise approximately $200 million. The exchange had previously considered an IPO in Thailand but was deterred by the poor performance of the local stock market. Thailand-based digital assets exchange Bitkub is mulling an initial public offering (IPO) in Hong Kong, people familiar with the matter told Bloomberg . The exchange may look to raise roughly $200 million from the IPO, possibly next year, the sources said, adding that discussions are ongoing and details could still shift. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Bitkub, founded in 2018, previously considered an IPO in Thailand, but the dour performance of the domestic stock market played spoilsport. Thailand's stock market, one of the worst performers globally this year, has seen an average of over 12% drop in listings 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 looking to establish itself as the regional digital asset hub, supported by a clear regulatory roadmap from the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA). Thailand Markets AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. View Full Report More For You $80K Bitcoin Put Now Most Popular Bet By Omkar Godbole , AI Boost 1 hour ago The $80K BTC put is now the most popular options play on Deribit. What to know : The $80K BTC put is now the most popular options play on Deribit. The option represents a bet that prices will slide below $80K. Read full story Latest Crypto News $80K Bitcoin Put Now Most Popular Bet 1 hour ago DOGE Beats the Blue Chips as D.O.G.E Calls it Quits 2 hours ago Bitcoin ETFs, Led By BlackRock's IBIT, See Record $40B Trading Volume as Institutions Capitulate 2 hours ago ETF Outflows, Stablecoin Flows and DAT Reversals Signal Crypto Capital Flight: NYDIG 11 hours ago State of Crypto: What Congress Has Left to Do This Year 13 hours ago Sunrise Debut Streamlines Solana Token Imports as Monad Goes Live 17 hours ago Top Stories Bitcoin ETFs, Led By BlackRock's IBIT, See Record $40B Trading Volume as Institutions Capitulate 2 hours ago Is Strategy Stock the Preferred Hedge Against Crypto Losses? Tom Lee Thinks So Nov 22, 2025 Turning ‘$11K to Half a Billion Dollars From Trading Memecoins’: Tales From a Crypto Wealth Manager Nov 22, 2025 'Liquidity Crisis': $12B in DeFi Liquidity Sits Idle as 95% of Capital Goes Unused Nov 22, 2025 Coinbase 'Negative Premium' at Widest Level since Q1, Signalling Weak U.S. Demand Nov 22, 2025 Aerodrome Finance Hit by 'Front-End' Attack, Users Urged to Avoid Main Domain Nov 22, 2025