If successful, Bitbank intends to invest in emerging technologies like AI, diversifying beyond the crypto market.
Bitbank, one of the leading cryptocurrency exchanges in Japan, has officially confirmed its plans to conduct an initial public offering (IPO) next year. The company’s CEO, Noriyuki Hirosue, made the revelation on Tuesday during an online seminar, Bloomberg Law reported.
The company has been working to better position itself for the potential IPO and become profitable for investors. CEO Hirosue said the exchange plans to make strategic investments in emerging technologies outside the crypto market, such as artificial intelligence (AI), if the IPO goes through.
Bitbank Plans Public Listing on the Tokyo Stock Exchange
The exchange plans to prioritize the launch of new products and services while adhering to strict compliance standards to address the concerns of investors, particularly those hesitant to invest in the crypto sector due to regulatory uncertainties.
Bitbank is considering finalizing the IPO by mid-2025. Once listed, the company will become Japan’s first publicly traded crypto exchange, just like Coinbase is in the United States.
“I’d like to do the IPO next year, possibly around the middle,” Hirosue said. He believes that if the exchange succeeds in its mission to go public, it will bolster Jason’s “social credibility,” which is currently lacking within the country’s crypto sector.
Bitbank first suggested the possibility of an IPO in July this year through a filing with Japan’s financial regulator. In the filing, the company outlined its intention to pursue a listing on the Tokyo Stock Exchange.
At the time of the filing, the exchange’s key shareholders included co-founder Noriyuki Hirose, who held a 30.69% stake, MIXI, Inc, with a 26.99% share, and Ceres Inc, which owned 23.05% of the company.
Bitbank Unveils Investment Division to Increase IPO Prospects
While awaiting the regulator’s decision, the company has recently expanded its global presence with the launch of a new investment division dubbed Bitbank Ventures. Through this unit, the company plans to provide financial support to promising blockchain projects across different sectors of the industry.
According to an announcement, this will include projects across various stages of development, from pre-seed to Series A funding rounds. The company disclosed that this financial backing will extend beyond the Japanese market to include those outside the Asian Pacific Region (APAC) and other parts of the world.
Meanwhile, Bitbank is not the only crypto company in Asia looking to go public next year. In September, Bithumb, South Korea’s second-largest crypto exchange, announced that it plans to go public in the United States through a special-purpose acquisition merger. The firm is eyeing to be listed on Nasdaq before the end of the second half of 2025.
Like Bitbank, Bithumb also launched an investment unit named Bithumb Investment to increase its prospects for a potential IPO.
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