Bitkub Eyes $200 Million IPO in Hong Kong as Thailand Market Declines

Bitkub plans a $200 million IPO in Hong Kong to expand globally.

Fridah Kangai
November 25, 2025
6:00 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Bitkub plans $200 million IPO, aiming for global exposure.
Thailand market struggles push Bitkub toward Hong Kong listing.
Hong Kong’s crypto-friendly environment supports Bitkub’s global ambitions.

Bitkub, Thailand’s largest crypto exchange, is reportedly planning an initial public offering (IPO) in Hong Kong. Sources familiar with the matter revealed that the exchange aims to raise $200 million. The IPO could happen as early as next year.

Initially, Bitkub had thought of allowing its IPO in Thailand. This plan was, however, shelved by the company because of the poor performance of the Thai stock market. The SET Index, which is used to measure the Thai stock market, has fallen by about 25 percent this year.

In February 2024, Bitkub CEO Jirayut Srupsrisopa indicated a possibility of an IPO in Hong Kong to increase the exposure of the company worldwide. He stressed that Bitkub had an intention of going out of Thailand and look up to new markets.

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Hong Kong’s Crypto-Friendly Approach Paves the Way for Expansion

Hong Kong is an emerging center of the cryptocurrency industry. The region has launched a number of programs to favor the crypto business. These comprise a crypto licensing framework and a stablecoin and token deposits framework.

Moreover, Hong Kong was the first to introduce a spot crypto exchange-traded fund (ETF), and then it introduced Solana ETFs. The active stance of the city has provided a much better atmosphere for crypto exchanges. In the case of Bitkub, this is one of the reasons why it is choosing Hong Kong as its IPO destination.

Hong Kong’s regulatory environment is still in the changing phase, which gives the crypto companies increasing growth opportunities. Consequently, Bitkub can grow its activities and would have global exposure. The decision is in line with the long-term objectives of the company to become a key international participant in the cryptocurrency market.

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