Bithumb plans to divide its central crypto exchange from other activities as it is reorganized in preparation for an preliminary public offer (IPO).

The Seoul-based company will be split into two, with Bithumb Korea, which focuses exclusively on running the core crypto exchange business. Bithumb Korea will be the device seeking a public listing reported local media with reference to the country’s business register.

The other unit, a newly created company called Bithumb A, will oversee venture investments, asset management and new business initiatives. The restructuring is set to take effect on July 31st.

Bithumb A will consolidate the investment arms of the exchange, including Bithumb partners that have been changed from NFT and Metaverse projects to financial product investments such as shares, bonds and convertible bonds. According to local media, Bithumb is in conversations with licensed devices to offer these services in the country.

Bithumb Investment, which administers shares and strategic partnerships with external companies, will also fall under Bithumb A’s supervision.

Last year, Bithumb is said to consider a NASDAQ list, but now its plans have switched to a list of South Korea’s Kosdaq first with an American list as a secondary goal.

Bithumb released an operating profit of $ 130.8 billion won ($ 95 million) in 2024, turning a loss of 149 billion-VVV years from the previous year, local media reported.