Major crypto exchange takes key early step to public U.S. listing with reverse merger

The path to the first publicly U.S. listed crypto exchange took a step forward with the announcement of a letter of intent (LOI) to merge Korean cryptocurrency exchange Bithumb with OTC listed holding company Blockchain Industries (ticker BCII), according to a direct filing issued by Blockchain Industries.

Known as a reverse merger, the deal would involve Bithumb's majority owner (soon to be named Blockchain Exchange Alliance or BXA) merging with OTC listed Blockchain Industries as a single entit