Bitkub Eyes $200M Hong Kong IPO as Thai Market Weakens
Thailand's Bitkub Capital Group is preparing for a potential $200 million Hong Kong IPO as early as 2026, with sources indicating preparations could accelerate to 2025. The MOVE comes as Thailand's SET Index underperforms regional peers, dropping 10% this year amid a 12% decline in new listings.
Hong Kong's aggressive crypto regulatory reforms appear timed to attract listings like Bitkub's. The city has licensed crypto exchanges and is expanding market access - Securities and Futures Commission CEO Julia Leung hinted at future provisions for global liquidity pool access. First-time Hong Kong listings may surpass $40 billion in 2025, creating an opportune window.
The Thai exchange's pivot mirrors Southeast Asia's shifting crypto landscape. While Bangkok tightens oversight, Hong Kong is positioning as Asia's digital asset gateway - approving spot crypto ETFs and now courting foreign listings. Bitkub's potential debut WOULD test appetite for crypto-adjacent equities after 2024's mixed public market performance.