Key Insights
- KuCoin has launched its first fully regulated exchange in Thailand, following the acquisition of ERX and approval from the Thai SEC.
- KuCoin Thailand offers spot trading and Thai baht on/off-ramp services, with plans to expand based on local regulations and demand.
BANGKOK (MarketsXplora) – Cryptocurrency exchange KuCoin has launched a fully regulated local subsidiary in Thailand, marking a significant step in its global compliance and expansion strategy across Southeast Asia.
The newly launched entity, KuCoin Thailand, is the company’s first fully licensed digital asset exchange operating under the supervision of Thailand’s Securities and Exchange Commission (SEC). The exchange received its operational license earlier this year and is now registered with Thailand’s Ministry of Commerce, effective April 30.
In a statement on Friday, KuCoin said the move reinforces its commitment to regulatory compliance and user security, highlighting its recent SOC 2 Type II and ISO 27001 certifications — international standards for data security and risk management.
“This marks a significant step toward strengthening our presence in the fast-growing markets of Southeast Asia, and more importantly, bringing secure, accessible crypto services to users where they are,” said BC Wong, Chief Executive Officer of KuCoin.
Wong emphasized that Thailand’s regulatory clarity, strong market potential, and government support made it an ideal location for the exchange’s regulated expansion.
“Thailand’s combination of regulatory clarity, market potential and government backing made it a significant milestone in our global compliance strategy,” he added.
KuCoin Enters Thailand via ERX Acquisition
KuCoin entered the Thai market through the acquisition of ERX Company, formerly the country’s first SEC-supervised digital token exchange. The platform was rebranded as KuCoin Thailand on April 22, and all existing ERX customers have since been migrated to the new platform.
Currently, KuCoin Thailand offers spot trading services as well as a Thai baht fiat on/off-ramp, enabling users to convert between digital assets and the local currency. Wong stated that while KuCoin Global supports a broader suite of products, the company will tailor future offerings in Thailand in alignment with local regulatory requirements and market demand.
Thailand’s crypto landscape includes eight other licensed exchanges, such as WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade.
KuCoin Thailand Gains Ground as the SEC Cracks Down on Rivals
The launch comes as the Thai government pushes to integrate cryptocurrencies into its tourism sector, including plans to enable crypto payments via credit card integrations for visiting tourists.
Meanwhile, the country’s regulators are tightening oversight on foreign-based platforms. On May 29, the Thai SEC announced it will block five unlicensed crypto exchanges — Bybit, 1000X, CoinEx, OKX, and XT.COM — effective June 28, citing investor protection and anti-money laundering concerns.
“The SEC advises all investors using these platforms to take necessary action regarding their assets before the shutdown date,” the regulator said.