The move comes after KuCoin acquired ERX Company, a licensed digital token exchange in Thailand, which has now been rebranded as KuCoin Thailand.
The rebranded platform became active under the new name on 22 April 2025, with existing ERX users migrated to the updated KuCoin infrastructure. The exchange is officially registered with Thailand’s Ministry of Commerce as of 30 April 2025.
The development marks KuCoin’s first fully regulated local subsidiary and forms part of its wider strategy to expand into regulated markets across Southeast Asia. A representative from KuCoin said the choice to begin with Thailand was influenced by the country’s regulatory framework, growth potential, and government support for digital finance.
The platform currently provides spot trading and fiat on/off-ramp services for the Thai baht. A KuCoin official noted that while the company offers a wider set of products globally, the local operation will scale its offerings gradually in accordance with domestic regulations and user demand.
At the time of writing, Thailand hosts eight other licenced digital asset exchanges. These include WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade.
In addition to targeting general crypto adoption, KuCoin is positioning itself to take advantage of Thailand’s planned initiative to allow cryptocurrency payments for tourists via credit card integrations.
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.
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.
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