Coins.ph launches Thailand's 2nd Bitcoin exchange, Coins.co.th

Thailand has reportedly gotten its 2nd Bitcoin exchange, coins.co.th, launched by Philippines-based coins.ph.

It will allow for Bitcoin buying/selling versus the local baht currency. However, it will function more as a currency exchange service than a Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term-based online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. Bitcoin buyers sign up, place a buy order and then send the indicated amount of cash through a local bank. Sellers sign up, place a sell order and then send the appropriate sum of bitcoins to the indicated address.

Still, the presence of more than one exchange venue in the country is healthy for competition and Bitcoin adoption. The use of cryptocurrency as a means for financial mobility is much more felt in countries like Thailand and Philippines, where large segments of the population are unbanked. Coins.ph CEO Ron Hose explained:

“We recognize the lack of functional financial services in developing countries, and the growing demand for Bitcoin as a lower barrier alternative to traditional banking. We want to position ourselves as the Coinbase of Southeast Asia, with a platform that is geared specifically towards markets with low bank penetration.”

The country's first exchange, Bitcoin.co.th, went offline last year after indications from its central bank that Bitcoin is illegal. It reopened earlier this year after the central bank confirmed that while risky, dealing in it is in fact legal.