22 April 2025 — An important step in KuCoin’s Southeast Asian expansion strategy has been reached with the official launch of its local platform in Thailand. Operating under the name KuCoin Thailand, the new exchange was founded in collaboration with local operator ERX Company Limited and holds a license from the Securities and Exchange Commission (SEC) of Thailand.
The launch underscores KuCoin’s push into regulated markets, offering Thai users access to secure, locally compliant cryptocurrency trading backed by the exchange’s international expertise.
“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.
A Platform Built for Thailand
The operator, ERX, recently obtained the required license from the Thai SEC, despite being renamed as KuCoin Thailand. The change enables ERX to take use of KuCoin’s sophisticated infrastructure and extensive global reach while providing regulated digital asset services. By volume, KuCoin is one of the top five cryptocurrency exchanges in the world.
Att Tongyai Asavanund, CEO of ERX, emphasized the platform’s mission to tailor its services to local users, stating the collaboration would bring “powerful global tech and resources” customized for the Thai market.
All existing users of the previous ERX platform have been seamlessly migrated to the new site, accessible via www.kucoin.th or the KuCoin TH mobile app.
The exchange now operates with a solid financial base, boasting 351 million baht in paid-up capital. It is nearly fully owned by Cryptosphere Ventures, a venture established in September 2024 with an initial investment of 1 million baht.
With its launch, KuCoin Thailand becomes the ninth crypto exchange to receive regulatory approval from the SEC, joining major players such as Bitkub, Upbit, and Gulf Binance. Bitkub remains the dominant exchange in Thailand, currently handling trading volumes of approximately $70 million.
Global Expansion Amid Regulatory Challenges
Following a string of regulatory obstacles in other jurisdictions, KuCoin has expanded into Thailand. For instance, its mobile app was barred in South Korea because it lacked a local license. KuCoin is aiming for quick expansion in Latin America, the Middle East, and Europe despite these difficulties.
Globally, KuCoin now serves nearly 40 million users and is actively pursuing a MiCAR license in Austria, part of its broader strategy to gain regulatory footholds across the European Union.
Crypto trading remains popular in Thailand, though the use of cryptocurrencies for payments was banned in 2022. Regulators have recently stepped up enforcement, targeting foreign peer-to-peer (P2P) platforms as part of a crackdown on scams and money laundering.
Meanwhile, KuCoin is also working to resolve a lawsuit with the U.S. Commodity Futures Trading Commission (CFTC), adding another layer of regulatory scrutiny as it expands its operations worldwide.
