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In a move that signals continued global expansion, KuCoin, one of the world’s leading cryptocurrency exchanges, has officially entered the Thai crypto market through the launch of KuCoin Thailand. The entry comes at a time when Thailand is tightening regulatory controls on digital asset services, but also rapidly embracing blockchain innovation as part of its national economic strategy.
The announcement was made on April 22, 2025, and confirmed that KuCoin Thailand will operate under the legal entity ERX Company Limited, which previously became the first platform to be regulated under Thailand’s Securities and Exchange Commission (SEC) for digital tokens. This not only allows KuCoin to launch a fully compliant exchange but also marks a transition from ERX’s brand identity to KuCoin Thailand, signaling a fresh and aggressive approach to one of Southeast Asia’s most dynamic digital asset markets.
From ERX to KuCoin Thailand: Strategic Rebranding and Migration
KuCoin’s entry into Thailand isn’t a simple licensing win—it represents a strategic rebranding of ERX, an SEC-compliant exchange that had already laid the groundwork for local operations. All existing ERX users have been automatically migrated to the new KuCoin Thailand platform, which is now live through a dedicated mobile app on both Android and iOS.
In an official statement, Att Tongyai Asavanund, CEO of ERX, stated:
“This transformation strengthens our ability to offer localized solutions tailored to the Thai market, while aligning with the global infrastructure and security standards of KuCoin.”
This partnership and rebranding give KuCoin immediate access to a user base and infrastructure that already meets Thailand’s regulatory standards—positioning it to scale rapidly while staying compliant with local laws.
Thailand: A Crowded and Regulated Crypto Arena
Thailand is considered one of the most crypto-active nations in Southeast Asia, with a tech-savvy population and a growing appetite for blockchain applications—from tokenized assets to decentralized finance (DeFi).
However, the market is highly competitive. KuCoin now joins a short list of platforms that hold full digital asset exchange licenses from the Thai SEC. Other license holders include:
- Bitkub Online (the current market leader)
- Upbit Thailand
- Gulf Binance (a joint venture between Binance and Gulf Energy)
- Thai Digital Assets Exchange
- InnovestX Securities
- GMO-Z.com Cryptonomics
- WAAN Exchange
- Orbix Trade
Among them, Bitkub dominates with over $70 million in daily volume, whereas KuCoin’s global exchange averages around $3.8 billion, according to CoinGecko. KuCoin’s challenge will be to leverage its global liquidity, tools, and brand trust to gain local users who are already spoiled for choice.
Regulatory Tensions and Opportunities
Despite its openness to blockchain innovation, Thailand maintains a cautious and regulatory-heavy approach to crypto operations.
- In 2022, the Bank of Thailand officially banned the use of crypto for payments, citing volatility and financial stability risks.
- In April 2025, the SEC and Anti-Money Laundering Office (AMLO) launched an enforcement campaign against unregistered and foreign P2P crypto platforms, emphasizing the government’s zero-tolerance policy on unauthorized operations.
- At the same time, the Thai government has floated pilot programs to allow sandboxed Bitcoin payments for tourists in locations like Phuket—highlighting a push-pull dynamic between regulation and innovation.
KuCoin’s entry under a licensed entity sends a strong message: it is prepared to operate within the legal framework, unlike many foreign exchanges still offering services to Thai users without approval. This could give it an edge in long-term trust and sustainability as Thai regulators continue to crack down on non-compliant actors.
Localized Strategy and Vision
KuCoin Thailand is aiming to be more than just another trading platform—it wants to be a core part of Thailand’s digital economy.
Henry Chen, Board Director at ERX, emphasized:
“We are committed to building a leading digital asset platform in Thailand that aligns with the country’s vision to become a global blockchain hub.”
The platform has promised:
- Localized language support
- 24/7 Thai customer service
- Educational initiatives to onboard retail and institutional users
- Enhanced security features and AML tools in compliance with local law
KuCoin also hinted at introducing staking, DeFi integrations, and NFT marketplaces in the near future to diversify its offerings and stay ahead of the competition.
Thailand’s Crypto Future and KuCoin’s Role
Thailand’s crypto market continues to evolve amid regional competition, global interest, and domestic fintech investment. KuCoin’s presence—backed by compliance, technology, and liquidity—has the potential to reshape the playing field, especially as local users look for platforms that can deliver both innovation and regulatory clarity.
By working with regulators rather than against them, KuCoin is betting on a long-term, sustainable strategy, and positioning itself as a digital finance bridge between Thailand and the broader global crypto economy.
Conclusion
KuCoin’s official launch in Thailand marks a major step in its expansion across Asia and reflects the exchange’s intent to solidify its presence in regulated markets. By acquiring an SEC-compliant license through ERX and rebranding the platform, KuCoin gains instant credibility in one of the region’s most advanced digital asset economies.
While competition remains fierce and regulatory scrutiny is intensifying, KuCoin’s proactive approach and global experience may give it a unique advantage in a market poised for exponential growth. For Thailand, the entry of such a well-established exchange could be a catalyst for deeper innovation and broader crypto adoption—if managed with care and compliance.
This article reflects the opinions of the publisher based on available information at the time of writing. It is not intended to provide financial advice, and it does not necessarily represent the views of the news site or its affiliates. Readers are encouraged to conduct further research or consult with a financial advisor before making any investment decisions.
