Cryptocurrency change KuCoin has launched a totally regulated native subsidiary in Thailand after buying an operational license from the nation’s Securities and Change Fee (SEC).
KuCoin Thailand is the corporate’s first absolutely regulated native digital asset change. In a Friday announcement, KuCoin stated the launch displays its dedication to safety and compliance, citing its current SOC 2 Kind II and ISO 27001 certifications.
“This marks a big step towards strengthening our presence within the fast-growing markets of Southeast Asia, and extra importantly, bringing safe, accessible crypto providers to customers the place they’re,” stated KuCoin CEO BC Wong.
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KuCoin expands licensed enterprise operations by way of acquisition
KuCoin entered the Thai market by way of the acquisition of a local crypto exchange, ERX Company, which was additionally Thailand’s first SEC-supervised digital token change.
The platform was rebranded as KuCoin Thailand on April 22. All present ERX customers have since been migrated to the brand new KuCoin platform.
Thailand is at the moment residence to eight different licensed crypto exchanges, which embrace WAAN Change, Gulf Binance, Thai Digital Property Change, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Change, Bitkub On-line and Orbix Commerce.
KuCoin goals to capitalize on the Thai authorities’s plan to allow crypto payments for tourists by way of bank card integrations.
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