KuCoin to serve Thai nationals with a new crypto exchange

KuCoin has officially launched KuCoin Thailand, a licensed cryptocurrency exchange that follows the rules of Thailand’s Securities and Exchange Commission (SEC). This marks an important step in KuCoin’s plan to grow globally while fully complying with local laws.

The platform, which was initially tested in an invite-only phase, is now accessible to all suitable users in Thailand. The launch follows KuCoin’s acquisition and rebrand of ERX Company Ltd, the first digital asset exchange licensed by the Thai SEC.

KuCoin offers secure and local crypto services in Thailand

KuCoin rebranded ERX as KuCoin Thailand to skip the long wait time and strict regulatory checks of applying for a brand-new license. ERX Company Ltd was already registered and approved by the Thai Securities and Exchange Commission as the country’s first regulated digital asset exchange.

KuCoin also showed it values continuity, user safety, and reliability in a country that already takes crypto regulation seriously. It automatically migrated ERX users to the new KuCoin Thailand platform with their accounts, funds, and trading history preserved.

The new platform combines KuCoin’s well-known global technology and security systems with local features tailored to Thai users. This includes the Thai Baht fiat on-ramp and off-ramp, which allow users to deposit or withdraw money in their local currency directly from the platform.

KuCoin also proved it follows the best user privacy and safety practices with its SOC 2 Type II and ISO 27001 certifications (globally recognized standards for managing user data and protecting platforms from cyber threats).

KuCoin Thailand allows Thai users to access the global digital asset economy without sacrificing safety, convenience, or compliance. It sets a new example of how international exchanges can enter and grow in regulated markets.

Thailand supports crypto growth and draws global exchanges

The Thai Securities and Exchange Commission and other government bodies have worked together to create clear and enforceable rules. These efforts have made the country stand out in Southeast Asia as a nation that accepts guided cryptocurrency with well-structured policies.

These supportive conditions create a huge opportunity for crypto platforms like KuCoin to serve a large, informed, growing customer base. This is because the number of crypto users has grown rapidly, with nearly 18% of the population (13 million Thais) actively using digital assets in 2023.

Thai officials are also working on ways to allow tourists to spend cryptocurrencies using crypto-integrated credit cards that can be swiped like normal cards at shops, hotels, and restaurants.

KuCoin CEO BC Wong noted that the launch shows that KuCoin takes compliance, security, and user safety seriously. He said that it wants to establish permanent roots in cities where the rules are clear, the demand is real, and the future of crypto has already begun to materialize.

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