TechFlow News, January 6 — According to South Korean media, cryptocurrency exchange Bithumb has restructured its subsidiary Bithumb Meta into Bithumb Partners and increased its capital to 30 billion KRW (approximately 23 million USD). The newly reorganized company will focus on short-term investment businesses such as equities and convertible bonds.
This move is interpreted by the market as a preparatory step toward an IPO. LG CNS, CJ OliveNetworks, and SK Square, which previously invested in Bithumb Meta, liquidated their stakes in the second half of last year. The newly established Bithumb Partners is wholly owned by Bithumb, and its business model resembles the investment firm component outlined in Bithumb’s employee spin-off plan from March last year, which was later canceled.
A Bithumb representative stated that restructuring the existing entity—rather than establishing a new one—was primarily chosen to save time. The new company will focus on managing Bithumb's current assets and investing in short-term financial products, with potential future expansion into roles as a strategic investor (SI) or financial investor (FI).
