Bitcoin

Thailand’s Bitkub laying the ground for its IPO

Bitkub, Thailand’s top crypto exchange, plans IPO in 2025 to boost its profile and raise funds. IPO preparation includes hiring advisors. Bitkub eyes global expansion amidst rising competition & regulatory scrutiny. Bitkub Capital Group Holdings, the parent company of Bitkub Online, Thailand’s largest cryptocurrency exchange, is laying the groundwork for a monumental step forward —…

Bitkub, Thailand’s top crypto exchange, plans IPO in 2025 to boost its profile and raise funds.
IPO preparation includes hiring advisors.
Bitkub eyes global expansion amidst rising competition & regulatory scrutiny.

Bitkub Capital Group Holdings, the parent company of Bitkub Online, Thailand’s largest cryptocurrency exchange, is laying the groundwork for a monumental step forward — their Initial Public Offering (IPO) slated for 2025.

CEO Jirayut Srupsrisopa, also known as Topp, has indicated that the IPO aims to elevate Bitkub’s presence and secure vital funding for future endeavours.

Bitkub is currently in the process of enlisting financial advisors to facilitate the IPO listing, reflecting a strategic move towards enhancing its market standing amidst intensifying competition.

Bitkub Online, the exchange platform, is valued at approximately $165 million, a figure expected to surge as trading volumes surpass previous records. The company’s commitment to expansion extends beyond Thailand, with plans to explore listing opportunities in global financial hubs like Hong Kong, signalling ambitions for broader market penetration and enhanced visibility.

Bitkub’s proactive approach underscores its determination to navigate evolving market dynamics while capitalizing on emerging opportunities in the crypto landscape.

Navigating challenges amidst growth trajectory

Despite its promising trajectory, Bitkub faces challenges on multiple fronts.

The emergence of competitors such as Binance Thailand poses a formidable threat, intensifying the battle for market dominance. Moreover, regulatory scrutiny and setbacks such as the cancellation of a potential acquisition deal with Siam Commercial Bank (SCB) in 2022 underscore the complexities inherent in Bitkub’s journey towards sustained growth.

Nonetheless, Bitkub remains undeterred in its pursuit of market leadership and innovation. The exchange’s recent trading volume, exemplified by approximately $81.5 million in spot trading within 24 hours, reflects its active participation and influence in the crypto market.

With meticulous planning and strategic initiatives, Bitkub aims to leverage its IPO as a catalyst for transformative growth, solidifying its position as a prominent player in the global cryptocurrency landscape.

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USAID will change its name to the US Agency for International Humanitarian Assistance (IHA) By using blockchain technology, it will “radically increase security, transparency, and traceability” The revamp comes after Elon Musk’s Department of Government Efficiency (DOGE) cut USAID numbers from 10,000 to just under 300 in early February The Trump administration reportedly wants its…

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USAID will change its name to the US Agency for International Humanitarian Assistance (IHA)
By using blockchain technology, it will “radically increase security, transparency, and traceability”
The revamp comes after Elon Musk’s Department of Government Efficiency (DOGE) cut USAID numbers from 10,000 to just under 300 in early February

The Trump administration reportedly wants its United States Agency for International Development (USAID) to “leverage blockchain technology” as it works on renaming the organization.

According to a report from WIRED, a government memo has been circulating among State Department officials detailing plans for USAID. In the 13-page document – first reported on by Politico – it states that as part of the revamp, USAID will change its name to US Agency for International Humanitarian Assistance (IHA).

The memo also suggests “leveraging blockchain technology” which will “radically increase security, transparency, and traceability.”

It adds: “This approach would encourage innovation and efficiency among implementing partners and allow for more flexible and responsive programming focused on tangible impact rather than simply completing activities and inputs.”

USAID staffers on leave

Since US President Donald Trump re-entered the White House, significant changes have been made to organizations in the US. One of which is USAID.

In early February, USAID staff were put on administrative leave “with the exception of designated personnel responsible for mission-critical functions,” according to a government notice.

Following the implementation of Elon Musk’s Department of Government Efficiency (DOGE), staff numbers at USAID have been cut from 10,000 to just under 300.

In a post on X in February, Musk wrote: “USAID is a criminal organization. Time for it to die.”

USAID is a criminal organization.

Time for it to die. https://t.co/sWYy6fyt1k

— Elon Musk (@elonmusk) February 2, 2025

Blockchain in humanitarian efforts

The use of blockchain in humanitarian efforts has been used before with many seeing the potential is can bring. In 2020, UNICEF invested around 135 Ethereum – about $30,000 at the time – into eight companies from seven developing countries to assist in developing prototypes and to scale their projects.

Financial services company AID:Tech turned to the payment rails of stablecoin issuer Circle to provide fraud-resistant disaster relief delivery in USDC in 2021. By doing so, they wanted to reduce inequality and increase opportunities by bringing accountability and transparency to the distribution of federal relief.

Realizing the benefits of blockchain technology, AID:Tech was the first company to use the technology to deliver international aid in 2015.