Bitkub’s $200 Million IPO Boosts Hong Kong’s Aspirations to Become a Leading Crypto Center

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Bitkub’s $200 Million IPO Boosts Hong Kong’s Aspirations to Become a Leading Crypto Center

Bitget-RWA2025/11/24 11:08

By:Bitget-RWA

- Thailand's Bitkub plans a $200M Hong Kong IPO to expand beyond its volatile domestic market. - The move leverages Hong Kong's crypto-friendly regulations and $27.8B IPO fundraising momentum in 2025. - Thailand's 10% stock market slump contrasts with Hong Kong's growth, highlighting regional market divergence. - Bitkub's listing would strengthen Hong Kong's "Fintech 2030" ambitions as a global crypto hub.

Bitkub, Thailand’s leading cryptocurrency exchange, is reportedly planning to go public in Hong Kong, with the goal of securing $200 million through an IPO as soon as next year. This decision

highlights the company’s strategic shift

away from its home market, which has faced ongoing instability, and is in line with Hong Kong’s efforts to strengthen its status as a global center for digital assets.

Bitkub had earlier weighed a 2025 IPO in Thailand but is said to have abandoned those plans due to the weak performance of the Thai stock market. The Stock Exchange of Thailand (SET)

has dropped around 10% this year

, reaching its lowest point in five years amid political friction with Cambodia and over $3 billion in foreign investment outflows during the first ten months of 2025. Bitkub’s choice to pursue a Hong Kong listing mirrors wider regional developments: while most Asian markets, such as South Korea and Hong Kong, saw gains in the first half of 2025,

Thailand’s stock market continues to lag behind others in the region

Bitkub’s $200 Million IPO Boosts Hong Kong’s Aspirations to Become a Leading Crypto Center image 0

The regulatory landscape in Hong Kong has become a major attraction

for Bitkub. The city has rolled out a comprehensive licensing system for crypto exchanges, enacted laws for stablecoins, and introduced frameworks for tokenized bank deposits, fostering a supportive environment for digital asset growth.

Regulators have also eased requirements to encourage more IPOs

, with the Hong Kong Stock Exchange raising $27.8 billion from public offerings in the first ten months of 2025—almost three times more than the previous year. If Bitkub lists in Hong Kong, it would further support the city’s push to diversify its IPO market,

especially by attracting companies from outside mainland China

In a 2024 letter to shareholders, Bitkub CEO Jirayut Srupsrisopa described the IPO as a move to "extend our presence beyond Thailand,"

indicating a long-term plan to boost the company’s global profile

. With daily trading volumes reaching $66 million, Bitkub continues to dominate Thailand’s crypto sector, but its leadership now seems to be focusing on regulatory certainty and stability

rather than the current state of the local market

Hong Kong’s proactive approach to fintech

, including its "Fintech 2030" strategy, aims to advance tokenization and digital finance over the next five years. These policies have already drawn major industry players like

Bitcoin

Depot, the world’s top Bitcoin ATM provider, and may

help Hong Kong compete with Singapore and the U.S. as a regional crypto leader

. Should Bitkub’s IPO proceed, it would stand out as one of Asia’s most notable crypto-related listings and

reflect a growing investor preference for markets with transparent regulations

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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