Thailand’s Bitkub Exchange Wants to Go for IPO in Hong Kong: Report

Bitkub is looking to raise $200 million and is considering an Initial Public Offering (IPO) in Hong Kong to achieve this feat, according to a Bloomberg report. Notably, it plans to have the IPO go live by 2026. It perceives Hong Kong as a strong market for this move rather than Thailand, where it had earlier attempted to go public.

Bitkub Plans Hong Kong IPO for Next Year

According to anonymous sources familiar with the matter, there are ongoing discussions, with the IPO scheduled for next year. This coincides with the time when Hong Kong is investing efforts into becoming a strong regional crypto hub.

To this end, it has issued a clear regulatory roadmap from the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA).

Bitkub is perceived as Thailand’s largest cryptocurrency exchange, boasting a total 24-hour trading volume of $60.75 million, according to Coingecko data. It once tried going public in Thailand but retracted due to the poor performance of the domestic stock market at the time. This year has not been any different, as Thailand’s stock market is one of the worst performers globally in 2025.

In 2025, it saw an average of over 12% drop in listings, with the index itself falling 10%.

Hong Kong Makes an Effort on Crypto Regulation

Earlier this month, Hong Kong’s SFC hinted at easing restrictions and encouraging cryptocurrency trading with its new plans.

Noteworthy, the plan is to allow local crypto platforms that are licensed to share global order books with their overseas affiliates. Before now, these virtual-asset trading platforms, or VATPs, kept their order books isolated from the global market

During those times, trades in Hong Kong could only match with others in Hong Kong, and not overseas platforms. With this change, there will be more liquidity from more buyers and sellers by tapping international pools.

Also, the Hong Kong Legislative Council passed the “Stablecoins Bill” in its third reading in May. More interestingly, the decision came just a day after the United States Senate passed the stablecoin bill known as the GENIUS Act.

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