Bithumb to Go Public in the US by March 1, 2019

BTHMB Holdings, an international company which includes the crypto exchange Bithumb announced its merger with the US crypto bank Blockchain Industries. If the deal goes through, Bithumb could be the first public crypto exchange in the United States.

Blockchain Industries is a publicly traded bank with a focus on the crypto industry and over-the-counter cryptocurrency trading. The company agreed with the holding BTHMB to merge into a single company to create the first publicly traded crypto exchange in the United States.

The two sides have already signed a letter of intent, and BTHMB has already allocated $1 million to the escrow account, as confirmation of the commitment to deal. Companies intend to complete the merger before March 1, 2019.

Companies promise to disclose details of the transaction after the successful completion of the merger.

BTHMB is a global financial services company located in Singapore. It possesses one of the largest exchanges in the world Bithumb. Now the company is in the process of renaming to the Blockchain Exchange Alliance (BXA).

The Blockchain Industries deal will allow BTHMB/BXA to enter the US market and instantly become a publicly traded company on the stock exchange. This is called reverse merger - when a private company buys a public one and thus enters the stock market. Another way to become a public company is to hold an IPO. But this option is extremely long and complicated, because, in addition to the approval from regulators, the company needs to attract investors to successfully enter the market.

  • According to CoinGecko, Bithumb was the largest crypto exchange in the world in terms of daily trading volumes at the end of 2018. Everyday investors traded crypto worth $1.4 billion on it.
1 year ago

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