KuCoin Expands into Thailand Amid Intensifying Crypto Market Competition

KuCoin, one of the world’s leading cryptocurrency exchanges with a global daily volume of $3.8 billion, is broadening its reach into Southeast Asia by launching its localized platform in Thailand. The new venture follows the rebranding and migration of ERX Company Ltd to KuCoin Thailand, after the firm secured a crypto exchange license from Thai financial regulators. This move positions KuCoin among eight other licensed platforms operating in a crowded market, including Bitkub, WAAN Exchange, and others. In parallel, Thailand’s crypto ecosystem is evolving, with earlier government initiatives proposing a pilot program for Bitcoin payments in Phuket, despite crypto payments having been banned by the central bank in 2022. The expansion, set against a backdrop of regulatory crackdowns on foreign peer-to-peer platforms and KuCoin's ongoing negotiations with US authorities over past regulatory issues, underscores a significant shift in the digital asset landscape in the region.