Cryptocurrency Exchange Kucoin deepens its presence in Southeast Asia by launching a dedicated platform in Thailand,, target To exploit the country’s expansion of digital assets.
According to a 23 April 2025 announcementKucoin will operate in Thailand through Erx Company LTD, the first exchange of digital tokens regulated by the Securities and Exchange Commission (SEC) of the country.
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ERX is under the name of Kucoin Thailand after obtaining an Crypto exchange license
ERX officially renamed Kucoin Thailand from April 22, following the recent approval of his crypto exchange license to Thai financial authorities.
“We are strengthening our ability to provide localized solutions adapted to the Thai market,” said ERX CEO, ATT Tongyai Asavanund. Existing ERX users have already been migrated to the new platform, with the Kucoin Thailand application now available on Android and iOS devices.
Kucoin enters a competitive landscape, joining eight other exchanges authorized by the Thai sec.
The main players include Bitkub, the first exchange of Thailand with a daily negotiation volume of around $ 70 million, alongside platforms like Upbit, Gulf Binance and Thai Digital Assets Exchange.
In comparison, Kucoin global operations offer a daily negotiation volume of $ 3.8 billion, according to Coingecko.
Thailand continues to be a hub for the enthusiasm of cryptography despite regulatory obstacles. Although trading in digital assets remains popular, the use of cryptocurrencies for payments has been prohibited by the central bank since 2022.
BluePrint Financial Hub of Thailand
“Here in Thailand, we integrate the future regulations focused on the bill …”
“- This including rationalized licenses for digital financing operators.”
Things evolve quickly in Thailand …
Excited to see what comes for $ Bike & … pic.twitter.com/eygo4kv2eh
– Luke – The Deeper Dive (@Luketd) March 18, 2025
BluePrint Financial Hub of Thailand 
Earlier this year, the Thai government offered a pilot allowed Tourists to use Bitcoin for payments to Phuket, although the initiative has not yet launch.
Meanwhile, Thai regulators have increased on Foreign cryptographic platforms to combat fraud and money laundering.
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Kucoin strives to solve legal problems
Kucoin’s expansion comes while the exchange works to resolve legal problems with the Commodity Futures Trading Commission (CFTC), which continued the platform in March 2024 for alleged violations of the law on the exchange of goods under the previous American administration.
Earlier this year, exchange pleaded guilty to the exploitation of a unit Surprise of transmission of money in the United States.
As part of a regulation with the American authorities, Kucoin agreed to pay nearly $ 300 million and will Leave the American market for the next two years. The founders of the exchange, Michael Gan and Eric Tang, were also forced to resign within the framework of the agreement.
The regulation also forced Kucoin to break into $ 184.5 million and pay an additional fine of $ 112.9 million.
The founders of Kucoin Gan and Tang were also required to lose $ 2.7 million and agreed to move away from all management and operational roles within Kucoin. The company, officially Known as Peken Global Limited, pleaded his guilt plea before a Federal Tribunal in Manhattan.
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Main to remember
- Kucoin renamed Erx as Kucoin Thailand to extend his presence on the growing growing market for Southeast Asia.
- The exchange between a competitive Thai market while regulators maintain strict controls on cryptographic payments and foreign platforms.
- Kucoin finalizes a regulation of $ 300 million with the American authorities after pleading guilty of having operated a money transmission company without license.
The Kucoin post extends to Southeast Asia by emphasizing the growing market of the cryptography of Thailand appeared first on 99Bitcoins.
