KuCoin debuts in Thailand with full regulatory approval

Crypto Exchange Kucoin announced the official launch of its Thailand platform entirely authorized in the context of its global expansion.

According to an April 23 announcementThe new platform will operate under ERX Company Limited, which recently received a crypto exchange license from Thailand Securities and Exchange Commission.

As part of the collaboration, ERX renamed Kucoin Thailand, allowing Kucoin to offer regulated access to digital assets and trading services in the country.

Commenting on the development, the CEO of the ERX, ATT Tongyai Asavanund, said that “Kucoin’s infrastructure and world resources” would allow the company to “provide localized solutions adapted to the Thai market”.

Existing ERX users have been migrated to the updated platform, which promises a global commercial experience of Kucoin and localized support.

New and existing users could also access the platform via the Kucoin Th application, which is available on Android and iOS.

“Our goal is to build a leading digital asset platform in Thailand with global vision, institutional quality service and advanced technology,” said Henry Chen, director of the board of directors in Erx.

Kucoin Thailand has become the ninth cryptocurrency exchange to be authorized by Thai sec, joining the ranks of Thai Digital Assets Exchange, Upbit, Bitkub, Gulf Binance, Innostx Securities, Orbix Trade, Waan Exchange and GMO-Z.com Cryptonomics.

The launch in Thailand also occurs while Kucoin deals with certain front winds in South Korea. As indicated previously by Crypto.News, the South Korean regulators blocked access to the Kucoin application on both Google Play And Apple App Store In March, declaring that the exchange was not registered to operate in the country.

However, Kucoin continues to grow in other parts of the world. In 2024, the exchange saw a adoption push through Latin America and the Middle Easthelping to push its global user base to almost 40 million. Negotiating volumes in the MENA region have tripled, while Europe has jumped 144%.

Kucoin also envisages expansion in Europe through a license in crypto-sets markets (Micar). The exchange requested regulatory approval in Austria, which would allow it to offer services through the EU.

Meanwhile, in January, the exchange expanded its suite of services with the launch of Ku Coin PayA payment platform that allows merchants to accept cryptocurrency transactions.