Cryptocurrency exchange Kucoin moves deeper into Southeast Asia with fresh pushing in Thailand. Based on an announcement dated April 23, Kucoin launches A New trading platform in the country Through the re -appointment of the ERX Company LTD, which has previously operated under the Securities and Exchange Commission (SEC) of Thailand.
Kucoin Thailand is now alive, and Rebranding became official on April 22. The platform will continue to operate under ERX, which has recently obtained a crypto exchange license from Thai regulators.
Kucoin Thailand begins with the existing user base
All existing ERX users have been moved to New Kucoin Thailand System. The company also rolls into the Kucoin Th app for Android and iOS users. In a statement, Erx CEO said Att Tongyai Asavanund said the goal was to offer crypto services more appropriate to local users.
Thailand is one of the more active countries in Southeast Asia when it comes to crypto trading. Despite a national ban on the use of crypto for payments, the trading activity remained strong. However, the crypto exchange will enter a market that has many well -established players.
Breaking🚨 Kucoin is launching the Thai Crypto scene!
The exchange will operate under ERX, Thailand's pioneering sec-regulated digital token platform, which has now been rebranded as Kucoin Thailand! pic.twitter.com/rr8rvnman6
– CryptosavingExpert ® (@cryptosavingExp) April 24, 2025
Thailand's crypto market is tight
According to Thai Sec, there are now nine companies licensed to operate Crypto exchanges in the country, including Kucoin. Others on the list include Bitkub Online, Gulf Binance, Upbit Exchange, and Waan Exchange.
Bitkub is the leading exchange in Thailand by trading volume. It processs about $ 70 million in trading per day, based on data from coingecko. For the comparison, Kucoin's global platform reports $ 3.8 billion in the sunny volume, making it one of the bigger exchanges worldwide. But competitiveness with the local will take more than size.
Thailand's policies remain strict with crypto use
Crypto remains a hot topic in Thailand, but the rules around how it is available are strict. The Bank of Thailand forbids the use of digital assets for payments in 2022. Trading allowed, but regulations have become more difficult in recent months.
Earlier in April, Thai regulators exploded in peer-to-peer services operated from overseas. Moving is part of an effort to reduce scams and fight money laundering. That could mean more investigation for new platforms, even licensed ones.
Kucoin is still talking to legal issues in the US
As Thailand expands, Kucoin also holds legal problems elsewhere. In March 2024, the US Commodity Futures Trading Commission (CFTC) filed a Demanda against the company. The case is tied to the alleged violation of the Commodity Exchange Act.
Kucoin is now working towards a regulator with US regulators. Although that situation is separate from its plans in Thailand, it is a reminder that crypto exchanges are often faced with pressure from many sides.
Featured image from Reuters, chart from tradingview
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