Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.
The IPO is expected to value the exchange at about 6 billion baht , CEO Jirayut Srupsrisopa told Bloomberg.How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
The owner of Thai crypto exchange Bitkub Online plans to sell shares to the public next year and is in the process of hiring financial advisers, Bitkub Capital Group Thailand's biggest crypto exchange provides about 80% of the Bangkok-based parent's profit and is 9.2% owned by Asphere Innovations. The initial public offering is expected to value the exchange at around 6 billion baht , Jirayut said. Bitkub Capital had signaled its intention to sell shares to the public in a 2023 letter to shareholders that didn't give a timeframe, Bloomberg said., a measure of the broader crypto market, added 49%.
Bitkub is also facing increased competition. In January, Binance Thailand – a venture of the world's largest crypto exchange by trading volume and Gulf Innova – A 2022 plan for Siam Commercial Bank , Thailand’s oldest lender, to buy 51% of Bitkub Online for 17.85 billion baht was canceled after the SECin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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