Thai's top cryptocurrency exchange, Bitkub, is accelerating its preparations for the highly anticipated IPO. Based on the Coindesk story, Jirayut Srupsrisopa, the BitKub CEO, recently revealed the expectations of the extraordinary US$3 billion valuation.
The first announcement of the BitKub IPO plans for 2025 is followed by the valuation news within a gap of a few weeks. The news raised lots of expectations in Thailand's fast-growing cryptocurrency market. The total worth of the company was US$160 million during the blockhead report on the changes earlier this month.
To raise the capital of the company and the company's visibility, the Bitkub IPO was framed as an Intentional strategy previously. In the Thai cryptocurrency market, the public listing is seen as a sign of maturity, and the crypto exchange also sees rapid growth. In the Land of Smiles BitKub is also facing competition from other exchanges like Binance and Kasikornbank. The announcement of a potential US$3 billion valuation created an additional boost for the BitKub IPO story.
The investor's strong confidence in BitKub future is indicated by the high price record. This can further lead to the reinforcement the Thailand's position in cryptocurrency innovation as a hub. Every investor should be aware that the market conditions are not stable and can change rapidly and the IPO shares are vulnerable to market changes.
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