The Kupoin cryptocurrency exchange moves deeper in Southeast Asia with a fresh thrust in Thailand. Based on an announcement of April 23, Kucoin starts a new trading platform in the country of Rebranding Erx Company LTD, which previously worked under Thailand’s Securities and Exchange Commission (Sec).
Kucoin Thailand is now alive and the rebranding became officially on April 22nd. The platform will continue to operate under ERX, which recently secured a crypto exchange license from the Thai supervisory authorities.
Kucoin Thailand begins with the existing user base
All existing ERX users were moved to the new Kucoin Thailand system. The company has also introduced the KUCOIN TH -App for Android and iOS users. In an explanation, ERX CEO Att Tongyai Asavanund said that the goal was to offer Krypto services that are better suited for local users.
Thailand is one of the more active countries in Southeast Asia when it comes to the crypto trade. Despite a nationwide ban on the use of crypto for payments, the trade activities have remained strong. However, the crypto exchange will enter a market that already has several well-established players.
Breaking🚨 Kucoin starts in Thailand’s crypto scene!
The exchange will operate under ERX, Thailand’s pioneering SEC-regulated digital token platform, which is now renamed Kucoin Thailand! pic.twitter.com/rr8rvnman6
– Cryptosavingexpert ® (@Cryptosavavingexp) April 24, 2025
Thailand’s cryptom market is already overcrowded
According to the Thai -Sec, nine companies have now been licensed that are operated for the crypto exchange in the country, including Kucoin. Others on the list contain Bitkub Online, Gulf Binance, Upbit Exchange and Waan Exchange.
Bitkub is the top exchange in Thailand through trading volume. It processes Trades a day around 70 million US dollars based on Coencko data. For comparison: The global platform from Kucoin reports the daily volume of 3.8 billion US dollars and makes it one of the larger stock exchanges worldwide. However, the competition on site will take more than size.
Thailand’s rules remain close in the crypto use
Crypto remains a hot topic in Thailand, but regulate how it can be used are strict. The Thailand bank banned the use of digital assets for payments in 2022. Trading is permitted, but the regulations have become tougher in the past few months.
At the beginning of April, the Thai supervisory authorities teamed up against peer-to-peer crypto services from abroad. The step was part of the efforts to reduce fraud and combat money laundering. This could mean more examination for new platforms, including those that are licensed.
Kucoin still dealt with legal questions in the United States
During the expansion to Thailand, Kucoin also deals with legal difficulties elsewhere. In March 2024, the US Commodity Futures Trading Commission (CFTC) submitted a lawsuit against the company. The case is bound with alleged violations of the law on the exchange of raw materials.
Kucoin is now working on an agreement with the US supervisory authorities. Although this situation is separated from its plans in Thailand, it is a memory that the crypto exchange is often exposed to pressure from several sides.
Selected picture of Reuters, Diagram by Tradingview
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