KuCoin Launches SEC-Approved Crypto Exchange in Thailand

KuCoin has launched its SEC-approved crypto exchange in Thailand. In partnership with ERX Company Ltd., the platform aims to offer secure cryptocurrency services to local users. KuCoin Thailand is now the ninth licensed crypto exchange in the country, adding to the competitive landscape dominated by Bitkub. The exchange aims for rapid expansion, while navigating regulatory challenges and a lawsuit in the U.S.

KuCoin has made its official entry into the Thai market by launching KuCoin Thailand, a crypto exchange approved by the Securities and Exchange Commission (SEC) of Thailand. This initiative, done in collaboration with ERX Company Limited, aims to leverage KuCoin’s extensive global trading experience while adapting to local operational needs. As of April 22, the platform offers Thai users a secure and regulated environment for trading digital tokens and cryptocurrencies.

ERX, which continues as the operator, recently secured its SEC licensing. KuCoin is now among the top five global crypto exchanges and plans to bring advanced technological solutions to meet the specific requirements of the Thai market. ERX’s CEO, Att Tongyai Asavanund, expressed enthusiasm about merging international tech prowess with local insights.

Users from the previous platform have transitioned to the new site, which is accessible at www.kucoin.th or through the KuCoin TH mobile app available in app stores. KuCoin Thailand is well capitalised at 351 million baht, predominantly owned by Cryptosphere Ventures, which started with an initial capital investment of just 1 million baht in September 2024.

With this launch, KuCoin Thailand becomes the ninth crypto exchange to gain approval from the SEC, joining established competitors like Bitkub, Upbit, and Gulf Binance. Notably, Bitkub leads with a trading volume around $70 million, indicating a competitive landscape ahead for the new entrant.

KuCoin has plans for broader expansions beyond Thailand, particularly targeting regions such as Latin America, the Middle East, and Europe, all while its global user base approaches 40 million. Additionally, the exchange is working towards obtaining an EU-wide MiCAR license via Austria. However, challenges remain, especially after Thailand’s regulatory restrictions considerably limited crypto payment options in 2022, and recent moves against foreign P2P platforms to combat scams. KuCoin is also dealing with a lawsuit from the U.S. Commodity Futures Trading Commission (CFTC).