Seychelles-based cryptocurrency exchange KuCoin has announced its expansion into Southeast Asia with the launch of operations in Thailand’s growing digital asset market.
As part of its broader growth strategy, KuCoin has established KuCoin Thailand, a new crypto exchange platform operated by ERX Company Limited. The platform aims to deliver a superior trading experience and robust security standards tailored to local users. Licensed by the Securities and Exchange Commission (SEC) of Thailand, KuCoin Thailand meets the country’s regulatory requirements, providing users with access to secure and compliant digital asset services. Existing ERX users have already been migrated to the KuCoin Thailand platform, which is available via Android and iOS apps.
Thailand’s cryptocurrency market is on a notable upward trajectory, projected to generate approximately USD 488.9 million in revenue by 2025, with the number of crypto users expected to reach 7.84 million. KuCoin now joins a competitive group of eight other SEC-licensed exchanges in Thailand, including WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade.
KuCoin’s Global Expansion Strategy
KuCoin’s entry into Thailand is part of its broader plan to establish a stronger presence in key global markets. In August 2024, KuCoin also applied for a licence to operate in Turkey. The Turkish Capital Markets Board included KuCoin in its preliminary list of 76 companies seeking licences under the country’s evolving crypto regulatory framework. However, the board clarified that inclusion on the list does not equate to full authorisation; formal approval will require additional regulatory steps once secondary legislation is enacted.
Beyond its geographic expansion, KuCoin has been innovating its product offerings. In July 2024, KuCoin introduced enhancements to its KuCard, allowing users to manage multiple virtual and physical cards under a single account. This update was designed to improve financial flexibility, budgeting, and expense management while offering crypto-to-fiat conversion capabilities and cashback rewards, reinforcing KuCoin’s commitment to delivering comprehensive and user-friendly crypto financial solutions.
Through these strategic initiatives, KuCoin continues to position itself as a major player in the global cryptocurrency ecosystem, focusing on regulatory compliance, user-centric innovation, and targeted regional expansion.
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