As part of its growth strategy, KuCoin seeks to roll out a crypto exchange platform providing digital assets and related products in Thailand.
According to the official press release, the company facilitated the launch of the local digital token and cryptocurrency exchange KuCoin Thailand, operated by ERX Company Limited. The platform merges an optimal trading experience and security standards with localised operations, in turn focusing on offering reliable digital asset services to users across the region. Additionally, KuCoin Thailand is licensed by the Securities and Exchange Commission (SEC) of Thailand, ensuring that the solution meets the country’s regulatory requirements. At the time of writing, existing ERX users have been migrated to the KuCoin Thailand platform, and the app is available on Android and iOS.
Thailand’s cryptocurrency market is on a growth path, with the region expected to reach a revenue of approximately USD 488.9 million in 2025. Additionally, the number of users in the crypto sector is projected to amount to 7.84 million users. By entering Thailand, KuCoin joins eight other companies licensed by the Thai SEC to activate as crypto and digital asset exchanges, including the WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade.
In addition to joining the Thai crypto market, KuCoin also applied in August 2024 for a licence in Turkey. At that time, the Turkish Capital Markets Board listed 76 companies that sought licences under new regulatory frameworks, with the initiatives underlining the region’s ascending status as a central hub for cryptocurrency activities. However, despite the progress, the board clarified that being included in the ‘List of Those in Operation’ did now equate to official authorisation, as each company still needed to obtain formal approval, contingent upon the enactment of secondary legislation.
Furthermore, just a month before this, KuCoin announced that KuCard was set to support multiple virtual and physical cards. With this update, users could manage multiple cards, all eligible for its cashback programme. The change sought to increase financial flexibility and convenience for cardholders, facilitating budgeting, expense tracking, and access to funds while also offering the capabilities of KuCard’s crypto-to-fiat conversion and cashback rewards.
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