PANews reported on January 6 that according to BizWatch, the South Korean crypto exchange Bithumb has transformed its defunct subsidiary Bithumb Meta into Bithumb Partners and is working to advance its investment business. It is reported that Bithumb Partners will be mainly responsible for short-term debt investments in stocks and bonds using Bithumb's own funds, in contrast to its subsidiary Bithumb Investment, which is primarily responsible for investing in external companies.
Industry insiders pointed out that "When Bithumb formally implemented personnel restructuring, it proposed a system of surviving legal entities centered on the exchange and new investment legal entities. Therefore, the establishment of this investment subsidiary seems to be related to this. Given that Bithumb has publicly announced that it will conduct an initial public offering (IPO) this year, the market is highly concerned about how its establishment of subsidiaries and other measures will progress."
