Crypto News: KuCoin Thailand Officially Launches as SEC-Approved Crypto Exchange

KuCoin has officially launched its local crypto exchange in Thailand, now known as KuCoin Thailand, in partnership with ERX Company Limited. Fully licensed by Thailand’s Securities and Exchange Commission (SEC), this new platform combines KuCoin’s global trading experience with local operations. 

The launch, effective April 22, marks a major step in KuCoin’s Southeast Asia expansion, offering secure and regulated digital token and cryptocurrency services to Thai users.

“Our goal is to build a leading digital asset platform in Thailand with global vision, institutional-grade service and state-of-the-art technology,” said Henry Chen, Board Director at ERX.

Solutions Tailored To Thai Market

The operator continues to be called ERX, which recently acquired a license from the SEC. KuCoin is one of the top five crypto exchanges globally. ERX’s Chief Executive Att Tongyai Asavanund said that the goal is to bring powerful global tech and resources to offer solutions tailored to the Thai market. 

All the existing users have been migrated to the new platform, which can be accessed at www.kucoin.th or via the KuCoin TH app on mobile stores. ERX, now KuCoin Thailand now has a financial base with 351 million baht in paid-up capital. It’s almost entirely owned by Cryptosphere Ventures, a company set up in September 2024 with 1 million baht in initial capital.

KuCoin Thailand becomes the ninth crypto exchange to be licensed by the SEC, joining big names like Bitkub, Upbit, and Gulf Binance. Bitkub dominates Thailand’s crypto space with a trading volume of around $70 million. 

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KuCoin Eyes Rapid Expansions

Previously, Thailand faced regulatory headwinds in South Korea, where KuCoin’s app was blocked without a license. KuCoin is eyeing rapid expansions across Latin America, the Middle East, and Europe, with its global user base nearing 40 million. It is also pursuing an EU-wide MiCAR license through Austria.  

While crypto trading is popular in the country, using crypto for payments was banned in 2022. In April, regulators targeted foreign P2P platforms to fight scams and money laundering. KuCoin is also working to resolve a lawsuit with the U.S. CFTC.