Competition in Thailand’s crypto exchange market is expected to heat up after ERX Company Ltd, the first digital token exchange supervised by the Thai Securities and Exchange Commission (SEC), welcomed a new global partner rebranded as KuCoin Thailand.
The operator continues to be called ERX, which was recently approved by the SEC to activate its crypto exchange licence.
Effective from April 22, KuCoin Thailand is set to launch a crypto exchange platform offering both digital tokens and cryptocurrency products.
KuCoin is a Seychelles-based crypto exchange, ranked among the top five largest crypto exchanges in the world.
“With a global infrastructure and resources backing us, we’re strengthening our ability to offer localised solutions tailored to the Thai market. KuCoin Thailand reflects our continued mission empowered by advanced technology and a broader global vision,” said ERX chief executive Att Tongyai Asavanund.
Henry Chen, board director at ERX, said the partnership marks a significant milestone for KuCoin Thailand.
“Our goal is to build a leading digital asset platform in Thailand with a global vision. We are committed to being a foundation of Thailand’s digital economy and contributing to the country’s strategic ambition of becoming a global digital hub powered by advanced blockchain technology,” said Mr Chen.
He said the rebranding from ERX to KuCoin Thailand reflects a renewed commitment to enhanced security, seamless trading and long-term value creation with full regulatory compliance.
The ultimate goal is to become a trusted, secure and user-friendly digital asset platform in the region, said Mr Chen.
All existing users have been migrated to the new KuCoin Thailand platform. Users can access the new system via www.kucoin.th, or download the KuCoin TH app from the App Store or Play Store.
With paid-up capital of 351 million baht, ERX is 99.99% owned by Cryptosphere Ventures Co Ltd, which was incorporated on Sept 24, 2024 with registered capital of 1 million baht.
Cryptosphere Ventures is majority-owned (51%) by two Thai nationals, with the remaining 49% held by a Hong Kong-based shareholder.
There are eight other companies licensed by the SEC to operate as cryptocurrency and digital token exchanges: WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange (trades only digital tokens), InnovestX Securities, GMO-Z.com Cryptonomics (Thailand) Co Ltd, Upbit Exchange (Thailand), Bitkub Online and Orbix Trade.
