Cryptocurrency exchange KuCoin is set to branch further into Southeast Asia, targeting the growing crypto market in Thailand. KuCoin is planning to launch a crypto exchange platform offering digital assets and related products in the country, according to an April 23 announcement. ERX Company Ltd, Thailand’s first Securities and Exchange Commission-supervised digital token exchange, has rebranded as KuCoin Thailand effective April 22, it stated. The crypto exchange will operate under ERX, which recently received a crypto exchange license from the Thai financial regulator. “We’re strengthening our ability to offer localized solutions tailored to the Thai market,” said ERX chief executive Att Tongyai Asavanund.
Existing ERX users have been migrated to the new KuCoin Thailand platform, and the KuCoin TH app is available on both Android and iOS. KuCoin joins an increasingly crowded Thai market KuCoin is entering a crowded market, as there are eight other companies licensed by the Thai SEC to operate as crypto and digital asset exchanges.
Comparatively, KuCoin’s global platform claims to have $3.8 billion in daily volume. Related: Thailand SEC plans to launch tokenized securities trading systemIn January, the Thai government announced a pilot program enabling tourists to pay using Bitcoin (BTC) in a sandboxed environment on the holiday island of Phuket.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Martin Young
The story "Crypto exchange KuCoin enters crowded Thailand market" has 354 words across 16 sentences, which will take approximately 2 - 3 minutes for the average person to read.
Which news outlet covered this story?
The story "Crypto exchange KuCoin enters crowded Thailand market" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 37 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
