Thai Crypto Exchange Bitkub Plans $165 Million IPO Amid Growing Market

• Bitkub Capital, owner of Thai crypto exchange Bitkub Online, plans to IPO in 2023, valuing the exchange at $165 million • IPO comes amid rising bitcoin prices and demand for crypto trading accounts in Thailand • Bitkub provides about 80% of parent company's profit and is 9.2% owned by Asphere Innovations • Faces increasing competition, including new Thai exchange from Binance and Gulf Innova • Previously canceled $530 million acquisition deal with Siam Commercial Bank after regulatory pushback