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Crypto exchange KuCoin has announced the official launch of its fully licensed Thailand platform as a part of its global expansion.
According to an April 23 announcement, the new platform will operate under ERX Company Limited, which recently received a crypto exchange licence from Thailand’s Securities and Exchange Commission.
As part of the collaboration, ERX has rebranded as KuCoin Thailand, allowing KuCoin to offer regulated access to digital assets and trading services in the country.
Commenting on the development, ERX CEO Att Tongyai Asavanund said KuCoin’s “global infrastructure and resources” would allow the company “to deliver localized solutions tailored for the Thai market.”
Existing ERX users have been migrated to the updated platform, which promises a mix of KuCoin’s global trading experience and localised support.
New and existing users would also be able to access the platform via the KuCoin TH app, which is available on both Android and iOS.
“Our goal is to build a leading digital asset platform in Thailand with global vision, institutional-grade service and state-of-the-art technology,” said Henry Chen, Board Director at ERX.
KuCoin Thailand became the ninth cryptocurrency exchange to be licensed by the Thai SEC, joining the ranks of Thai Digital Assets Exchange, Upbit, Bitkub, Gulf Binance, InnovestX Securities, Orbix Trade, WAAN Exchange, and GMO-Z.com Cryptonomics.
The Thailand launch also comes as KuCoin deals with some headwinds in South Korea. As previously reported by crypto.news, South Korean regulators blocked access to the KuCoin app on both Google Play and Apple’s app store in March, stating that the exchange was not registered to operate in the country.
Nevertheless, KuCoin continues to grow in other parts of the world. In 2024, the exchange saw a surge in adoption across Latin America and the Middle East, helping push its global user base to nearly 40 million. Trading volumes in the MENA region tripled, while Europe recorded a 144% jump.
KuCoin is also eyeing expansion in Europe through a Markets in Crypto-Assets (MiCAR) license. The exchange has applied for regulatory approval in Austria, which would allow it to offer services across the EU.
Meanwhile, in January, the exchange expanded its suite of services with the launch of Ku Coin Pay, a payment platform that allows merchants to accept cryptocurrency transactions.
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