Competition in Thailand’s cryptocurrency exchange market is set to intensify as ERX Company Ltd, the first digital token exchange regulated by the Thai Securities and Exchange Commission (SEC), partners with a new global affiliate rebranded as KuCoin Thailand.
The exchange will continue to be operated under the name ERX, which has recently received SEC approval to activate its crypto exchange license.
Starting from April 22, KuCoin Thailand will launch a crypto exchange platform that offers both digital tokens and cryptocurrency products.
KuCoin, based in Seychelles, ranks among the top five largest cryptocurrency exchanges worldwide.
“With our global infrastructure and resources at our disposal, we’re enhancing our capability to provide localized solutions tailored to the Thai market. KuCoin Thailand epitomizes our ongoing mission, supported by cutting-edge technology and a broad global vision,” stated ERX Chief Executive Att Tongyai Asavanund.
Henry Chen, a board director at ERX, noted that this partnership represents a pivotal moment for KuCoin Thailand.
“Our aim is to establish a leading digital asset platform in Thailand with a global perspective. We are dedicated to becoming a cornerstone of Thailand’s digital economy and supporting the nation’s strategic initiative to transform into a global digital hub fueled by advanced blockchain technology,” remarked Mr. Chen.
He added that the rebranding from ERX to KuCoin Thailand signifies a renewed commitment to heightened security, smooth trading experiences, and long-term value creation while ensuring full regulatory compliance.
The ultimate objective is to develop a trustworthy, secure, and user-friendly digital asset platform in the region, according to Mr. Chen.
All current users have been migrated to the new KuCoin Thailand platform, and they can access it via www.kucoin.th or by downloading the KuCoin TH app from the App Store or Play Store.
With a paid-up capital of 351 million baht, ERX is owned 99.99% by Cryptosphere Ventures Co Ltd, which was established on September 24, 2024, with a registered capital of 1 million baht.
Cryptosphere Ventures is majority-owned (51%) by two Thai nationals, with the remaining 49% held by a shareholder based in Hong Kong.
Additionally, there are eight other companies licensed by the SEC to operate as cryptocurrency and digital token exchanges, which include WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange (which trades only digital tokens), InnovestX Securities, GMO-Z.com Cryptonomics (Thailand) Co Ltd, Upbit Exchange (Thailand), Bitkub Online, and Orbix Trade.
