Cryptocurrency Exchange Kucoin has launched a fully controlled local subsidiary in Thailand after obtaining an operational license from the country’s Securities and Exchange Commission (SEC).
Kucoin Thailand is the first fully controlled by the local digital asset exchange company. In an announcement on Friday, Kucoin said the launch reflected its commitment to security and compliance, citing recent SOC 2 Type II and ISO 27001 certifications.
“It marks a significant step towards strengthening our existence in fast-growing Southeast Asian markets, and more importantly, bringing safe, accessible crypto services to users where they are,” Kucoin CEO BC Wong said.
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Kucoin has expanded licensed business operations by acquiring
Kucoin enters the Thai market by Getting a local crypto exchange, Erx CompanyWhich is also Thailand’s first sec-supervised digital token exchange.
The platform has been rebranded as Kucoin Thailand on April 22. All existing ERX users since moving to the new Kucoin platform.
Thailand is currently home to eight other crypto licensed exchanges, which include Waan Exchange, Gulf Binance, Thai Digital Assets Exchange, Innovestx Securities, GMO- Z.com Cryptonomics, Upbit Exchange, Bitkub Online and Orbix Trade.
Kucoin aims to capitalize the Thai government Plan to allow crypto payments for tourists by incorporating a credit card.
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