Cryptocurrency exchange KuCoin is expanding its presence in Southeast Asia by entering the thriving crypto market in Thailand. KuCoin is gearing up to launch a crypto exchange platform offering digital assets and related products in the country, as per an April 23 announcement. ERX Company Ltd, Thailand’s first Securities and Exchange Commission-supervised digital token exchange, has rebranded to KuCoin Thailand effective April 22, following the receipt of a crypto exchange license from the Thai financial regulator. The exchange will operate under ERX, and the CEO, Att Tongyai Asavanund, highlighted the focus on providing tailored solutions for the Thai market. Existing ERX users have been transitioned to the new KuCoin Thailand platform, available on both Android and iOS. KuCoin joins a competitive market in Thailand with eight other licensed companies by the Thai SEC for crypto and digital asset exchanges, including Bitkub, the largest with a daily trading volume of around $70 million. In contrast, KuCoin’s global platform boasts a daily volume of $3.8 billion. Despite the popularity of crypto trading in Thailand, the use of crypto assets for payments was prohibited by the central bank in 2022. KuCoin is also navigating legal matters with the US Commodity Futures Trading Commission after being sued for violating the Commodity Exchange Act. These developments reflect KuCoin’s strategic positioning in the evolving cryptocurrency landscape in Thailand.