Maturation of Thailand’s Crypto Market
Thailand’s leading crypto exchange, Bitkub, is planning to go public by 2025. CEO Jirayut Srupsrisopa announced the intention to list on the Stock Exchange of Thailand. This move aims to boost Bitkub’s profile and raise capital for future growth.
Competitive Landscape and Regulatory Environment
Bitkub faces competition from players like Binance and Kasikornbank Pcl. Despite this, Thailand’s crypto market has seen a surge in active trading accounts, indicating growing interest in digital assets.
Thailand’s Crypto Stance
The Thai government has taken steps to support the crypto industry, such as exempting digital asset trading from value-added tax. However, the Securities and Exchange Commission (SEC) remains cautious about spot exchange-traded funds (ETFs) for Bitcoin.
Bitkub’s Expansion Plans
Amidst the market expansion, Bitkub is expanding its workforce to meet anticipated growth. The company’s valuation is expected to rise as trading volumes increase.
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