KuCoin Enters Thai Market with Launch of Regulated Crypto Exchange

KuCoin has officially entered the Thai market with the launch of a locally regulated cryptocurrency exchange, following the acquisition of a digital asset license. The move comes after KuCoin acquired ERX Company, a licensed digital token exchange in Thailand, which has now been rebranded as KuCoin Thailand.

The rebranded platform became active under its new name on April 22, 2025, with existing ERX users migrated to the updated KuCoin infrastructure. The exchange is officially registered with Thailand's Ministry of Commerce as of April 30, 2025. This development marks KuCoin's first fully regulated local subsidiary and is part of its broader strategy to expand into regulated markets across Southeast Asia. A representative from KuCoin stated that the decision to begin with Thailand was influenced by the country's regulatory framework, growth potential, and government support for digital finance.

The platform currently offers spot trading and fiat on/off-ramp services for the Thai baht. While KuCoin provides a wider range of products globally, an official noted that the local operation will gradually scale its offerings in accordance with domestic regulations and user demand. As of the current time, Thailand hosts eight other licensed digital asset exchanges.

In addition to targeting general crypto adoption, KuCoin is positioning itself to capitalize on Thailand's planned initiative to allow cryptocurrency payments for tourists via credit card integrations. Thailand's cryptocurrency market is projected to reach approximately USD 488.9 million in revenue in 2025, with an anticipated 7.84 million users. Beyond its entry into Thailand, KuCoin also applied for a license in Turkey in August 2024, amidst initiatives in that region to establish it as a central hub for cryptocurrency activities.