• Kucoin has officially launched operations in Thailand as part of its Southeast Asian expansion strategy.
  • Thailand has a complex regulatory environment for crypto, with permitted trade but payments have been banned since 2022.

Crypto Exchange Kucoin, based in Seycheller, Launched Thailand operations officially as part of its Southeast Asian market expansion plan. Kucoin Thailand began its operations in the Thai market on April 23 through the former ERX Company Limited. The company now operates under Kucoin Thailand after receiving its Crypto Exchange license from Thailand’s Securities and Exchange Commission (SEC).

The regulated market presents strong competition to Kucoin’s operations

The marketplace for Kucoin Thailand is becoming more competitive as the country already has eight other cryptout exchanges licensed by Sec. Bitch Online stands as the leading player on the market by treating daily transactions worth approximately $ 70 million.

By comparison, Kucoin’s global platform that handles approximately $ 3.8 billion reports in daily transactions. The Kucoin Thailand platform is based on its global experience to deliver Thai investor-specific services from its recently launched platform.

All users from the previous ERX system have moved to the new platform. ERX’s CEO that Tongyai Asavanund expressed his opinion on the launch as a method to improve their local service features for the Thai market.

Crypto market extension occurred at a time when Thailand met ongoing challenges with the regulation of digital assets. Thai Central Bank issued a ban on crypto payments as trade continued to be popular in the country in 2022. In addition, the regulatory body expressed its support for controlled innovation by introducing a Bitcoin payment pilot program for tourists visiting Phuket. However, this experimental project remains inactive.

Thai enlargement stands as part of Kucoin’s worldwide expansion plan that combines global market entry with the need for legislation. The exchange is working on solve legal issues Following the US Commodity Futures Trading Commission filed a case against it for violations of raw material exchange.

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