KuCoin expands into Thailand with SEC-regulated crypto exchange

KuCoin, a major global cryptocurrency exchange, has launched KuCoin Thailand, a fully regulated digital token and cryptocurrency platform now open to all eligible users in Thailand. The exchange operates under the supervision of Thailand’s Securities and Exchange Commission (SEC), following an initial invite-only phase.
 

This marks the first time KuCoin has launched a locally regulated digital asset exchange under its own brand, leveraging its global technology and adapting it for Thai users. KuCoin Thailand provides a secure, intuitive, and localised trading experience, including seamless Thai Baht fiat on- and off-ramp solutions.

The company’s recent SOC 2 Type II and ISO 27001 certifications are intended to reinforce its commitment to security and regulatory compliance.
 

BC Wong, CEO of KuCoin

BC Wong, CEO of KuCoin commented:

"We are thrilled to see the official launch of KuCoin Thailand, a significant milestone in our global compliance journey. At KuCoin, compliance and user security have always been guiding principles — not just strategic choices, but steadfast commitments to our users. From being the first global exchange to register with India's FIU to now launching the first local compliant platform in Thailand, this marks a significant step toward strengthening our presence in the fast-growing markets of South East Asia, and more importantly, bringing secure, accessible crypto services to users where they are,”.
 

The launch follows KuCoin’s rebranding of ERX Company Ltd, previously operating under the Thai SEC, with all existing ERX users migrated to the new KuCoin Thailand platform. The KuCoin TH app is now available for both Android and iOS users.
 

Thailand’s crypto market is among the most active in Southeast Asia, with around 13 million Thais—approximately 18% of the population—using cryptocurrency in 2023. The government has signalled further support for digital assets, including plans to allow tourists to spend crypto through credit card integrations.
 

Despite a nationwide ban on using crypto for payments, Thailand’s regulatory environment is seen as relatively progressive, with the SEC licensing nine crypto exchanges in the country. KuCoin Thailand will compete with established players such as Bitkub Online, Gulf Binance, and Upbit Exchange. Bitkub remains the largest exchange by trading volume, processing about $70 million daily, while KuCoin’s global platform reports $3.8 billion in daily volume.
 

Industry observers have noted the significance of KuCoin’s entry. “With the backing of a global exchange like KuCoin, we want to contribute to Thailand’s growing digital economy and boost blockchain adoption in the region,” said Henry Chen, board director of ERX, KuCoin’s local partner.
 

On social media, Thai crypto enthusiasts have expressed optimism. One user on X (formerly Twitter) wrote, “KuCoin’s arrival will push other local exchanges to improve their services. Healthy competition is good for Thai crypto traders.” Another commented, “Finally, more fiat on/off ramps for Thai Baht—this is what we needed.”
 

KuCoin’s expansion into Thailand comes as the company faces legal challenges in other jurisdictions, including a lawsuit by the US Commodity Futures Trading Commission in March 2024. Nevertheless, the move underscores KuCoin’s strategic focus on Southeast Asia, where digital asset adoption continues to grow.