Bithumb, among the largest crypto exchanges in the world by trading volume, plans to go public in the United States through a reverse merger.
A reverse merger takes place when a private company acquires a publicly listed company. The process is also known as reverse takeover or reverse Initial Public Offering (IPO), since the buying company avoids carrying out a conventional IPO.
In this case, BTHMB Holdings, the company behind Bithumb, signed a deal with Blockchain Industries, an investment company centered on the crypto and blockchain industries and traded on US over-the-counter markets, for that purpose.
Both companies plan to conclude the deal by March 1.
With the settlement, BTHMB Holdings expects to expand its operations in North America — and the merged entity, that may be known as Blockchain Exchange Alliance (BXA), might become the first US-listed cryptocurrency exchange.
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