Japanese Crypto Exchange Bitbank Confirms IPO Plans for Next Year
Bitbank, a prominent cryptocurrency exchange in Japan, confirmed plans for an initial public offering (IPO) next year. CEO Noriyuki Hirosue announced this during an online seminar, as reported by Bloomberg Law.
Bitbank Plans Public Listing on the Tokyo Stock Exchange
The exchange aims to launch new products and services while maintaining compliance with regulations to alleviate investor concerns about the crypto sector. Bitbank targets mid-2025 for finalizing the IPO, which would make it Japan's first publicly traded crypto exchange, similar to Coinbase in the United States. Hirosue stated, “I’d like to do the IPO next year, possibly around the middle,” emphasizing the potential boost in social credibility for Japan's crypto sector.
In July, Bitbank indicated its IPO intentions through a filing with Japan’s financial regulator, outlining plans for a listing on the Tokyo Stock Exchange. Key shareholders include co-founder Noriyuki Hirose with a 30.69% stake, MIXI, Inc. at 26.99%, and Ceres Inc. holding 23.05%.
Bitbank Unveils Investment Division to Increase IPO Prospects
While awaiting regulatory approval, Bitbank launched an investment division called Bitbank Ventures to support promising blockchain projects across various sectors. This initiative will provide funding from pre-seed to Series A rounds, extending beyond Japan to include opportunities outside the Asia-Pacific Region.
Other Asian crypto companies are also pursuing public listings. In September, Bithumb, South Korea's second-largest exchange, announced plans for a U.S. IPO via a special-purpose acquisition merger, aiming for a Nasdaq listing by late 2025. Bithumb has similarly established an investment unit, Bithumb Investment, to enhance its IPO prospects.