Key Takeaways:
- KuCoin has launched services in Thailand by rebranding ERX Company Ltd., now operating as KuCoin Thailand with SEC approval.
- The Thai crypto market includes eight other SEC-licensed exchanges, with Bitkub dominating local trading volume.
- KuCoin’s entry comes amid regulatory tightening and an ongoing U.S. CFTC lawsuit against the exchange.
KuCoin, a Seychelles-based cryptocurrency exchange, has officially entered Thailand’s competitive crypto market as part of its Southeast Asia expansion strategy.
On April 23, KuCoin announced the launch of KuCoin Thailand, following the rebranding of ERX Company Ltd., the country’s first digital token exchange regulated by Thailand’s Securities and Exchange Commission (SEC).
🚨JUST IN: KUCOIN ANNOUNCES SOUTHEAST ASIA EXPANSION WITH NEW CRYPTO EXCHANGE LAUNCH IN THAILAND
— BSCN (@BSCNews) April 24, 2025
ERX recently secured a crypto exchange license, allowing KuCoin to operate under its framework and offer localized trading services.
KuCoin Thailand began operations on April 22, with all existing ERX users migrated to the new platform.
The KuCoin TH mobile app is now available for both Android and iOS users.
Thailand’s crypto market is already crowded, featuring eight other SEC-licensed exchanges such as Bitkub, Upbit, and Gulf Binance.
BREAKING🚨 KUCOIN LAUNCHES IN THAILAND'S CRYPTO SCENE!
— CryptoSavingExpert ® (@CryptoSavingExp) April 24, 2025
The exchange will operate under ERX, Thailand's pioneering sec-regulated digital token platform, now rebranded as Kucoin Thailand! pic.twitter.com/rr8RvNMAn6
Bitkub leads locally with around $70 million in daily trading volume, while KuCoin boasts a global volume of about $3.8 billion.
In broader developments, Thailand’s government is piloting Bitcoin payments for tourists in Phuket, though the initiative has not yet launched.
Regulators continue to crack down on unlicensed foreign platforms due to fraud concerns.
Meanwhile, KuCoin faces legal issues in the U.S. from a March 2024 lawsuit by the CFTC alleging violations of the Commodity Exchange Act.
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