Crypto platform KuCoin inaugurates regulated digital asset exchange in Thailand
Revamped Article:
exchange giant, KuCoin, makes a splash in Thailand with the launch of its first locally licensed platform: KuCoin Thailand. This fully regulated digital asset trading platform is under the watchful eye of Thailand's Securities and Exchange Commission (SEC).
After a successful invite-only pilot phase, KuCoin Thailand is now open to all eligible users in Thailand. This marks the debut of the first licensed local exchange under the KuCoin brand, offering both crypto-to-crypto trading and fiat services, including Thai Baht on-ramps and off-ramps.
Kicking off in Thailand with full regulatory approval, KuCoin entered Thailand's regulated crypto market on April 22, 2022, following the announcement of ERX Company Limited's rebranding to KuCoin Thailand and the relaunch under its license. Existing ERX users have been migrated, and the KuCoin TH app is now available for Android and iOS.
Thailand's crypto sector is one of the most vibrant in Southeast Asia, fueled by forward-thinking regulations and rising adoption rates. KuCoin joins a competitive landscape that includes other SEC-licensed platforms such as Bitkub and Gulf Binance. While regulatory tightening has placed restrictions on crypto payments, trading interest remains high.
Expansion plans for KuCoin don't stop with Thailand. The exchange is aiming to establish a presence in Europe by pursuing a Markets in Crypto-Assets license. In February 2022, it submitted an application in Austria, striving to gain approval to operate across the European Union.
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Enrichment Insights:For an extensive list of licensed and unlicensed exchanges in Thailand, it's advisable to consult the official resources of the Thailand Securities and Exchange Commission (SEC). As of the provided results, only KuCoin Thailand (acquired from ERX) and eight other SEC-licensed exchanges are known. Unlicensed exchanges like Bybit, CoinEx, OKX, 1000X, and XT.com have been banned. For the most accurate and current information, it's recommended to visit the SEC's official website.
- KuCoin Thailand, having been rebranded from ERX, recently launched its first locally licensed digital asset trading platform, offering both cryptocurrency-to-cryptocurrency trading and fiat services, like Thai Baht on-ramps and off-ramps, on Binance's rival platform.
- In a bid to expand its reach, KuCoin is aiming to establish a presence in Europe by pursuing a Markets in Crypto-Assets license, having already submitted an application in Austria with the hope of operating across the European Union.
- Despite regulatory tightening in Thailand that has placed restrictions on crypto payments, trading interest remains high, with KuCoin joining other SEC-licensed platforms like Bitkub and Gulf Binance in Thailand's vibrant crypto sector, making it a token of the country's forward-thinking regulations and rising adoption rates in the region.
