KuCoin has ventured into Thailand 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. The rebranded platform now operates under the name KuCoin Thailand.

KuCoin Establishes First Fully Regulated Local Subsidiary

On April 22, 2025, the new rebranded platform officially went live with all existing ERX users seamlessly transitioning to the updated KuCoin infrastructure. As of April 30, 2025, it is officially registered with Thailand’s Ministry of Commerce.

Regional Expansion Strategy

This development signifies KuCoin’s first fully regulated local subsidiary and is part of its broader strategy to expand into regulated markets across Southeast Asia. According to a KuCoin representative, the decision to start in Thailand was influenced by the country’s robust regulatory framework, potential for growth, and government support for digital finance.

Currently, the platform offers spot trading and fiat on/off-ramp services for the Thai baht. While KuCoin provides a wider range of products globally, the local operation will gradually scale its offerings in line with domestic regulations and user demand.

Thailand currently hosts eight other licensed digital asset exchanges including WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade. KuCoin’s entry aims to capitalize on the growth of Thailand’s cryptocurrency market, which is anticipated to generate revenue close to USD 488.9 million in 2025.

The number of crypto users in the region is projected to reach 7.84 million by 2025. Beyond its presence in the Thai market, KuCoin has also applied for a license in Turkey as part of its regional expansion plans.