KuCoin Enters Thailand Amid Regulatory Tightrope and Fierce Competition

Cryptocurrency giant KuCoin has officially launched operations in Thailand under the rebranded identity of KuCoin Thailand. The move follows ERX Company Ltd’s transformation into KuCoin Thailand on April 22, a significant step that positions the platform within Thailand’s regulatory framework. Fresh Start for KuCoin in Southeast Asia ERX, previously recognized as Thailand’s first digital token exchange regulated by the Thai Securities and Exchange Commission (SEC), now serves as the foundation for KuCoin’s regional expansion. Armed with a fresh crypto exchange license and the backing of the exchange’s global infrastructure, the new platform aims to deliver locally tailored services to Thai users. ERX CEO Att Tongyai Asavanund emphasized this vision, noting, “We’re strengthening our ability to offer localized solutions tailored to the Thai market.” Existing ERX users have already been migrated to the revamped platform, with the KuCoin TH app now live on Android and iOS. As the Southeast Asian market matures, this localization effort could prove pivotal in distinguishing KuCoin from other players. Fierce Competition and Regulatory Pressure in Thailand Despite KuCoin’s global daily trading volume exceeding $3.8 billion, Thailand’s crypto market won’t be easy to crack. The country is already home to eight other SEC-licensed exchanges, including local heavyweight Bitkub, which dominates the scene with a daily volume around $70 million . Other competitors such as Gulf Binance and Upbit Exchange are also firmly established. Regulatory uncertainty adds another layer of complexity. Although crypto trading is legal, using digital assets for payments has been banned by the Bank of Thailand since 2022. Meanwhile, government initiatives—like the sandboxed Bitcoin payment pilot in Phuket—remain stuck in limbo. Adding to KuCoin’s challenges is an ongoing legal battle in the U.S. , where the Commodity Futures Trading Commission (CFTC) has filed a suit against the exchange for alleged violations of the Commodity Exchange Act. The outcome could impact the platform’s global reputation and future regulatory engagements. Nonetheless, Thailand remains a hotbed for digital asset innovation, and KuCoin’s entry—if executed with precision and regulatory sensitivity—could reshape the local crypto landscape. The post KuCoin Enters Thailand Amid Regulatory Tightrope and Fierce Competition appeared first on TheCoinrise.com .

Source: The Coin Rise