Upbit Gains Four Crypto Licenses from Thai Regulator

South Korean crypto exchange Upbit announced on Wednesday that it has received four provisional licenses from Thailand’s Securities and Exchange Commission (SEC) for its local affiliate Upbit Thailand.

With the four new licenses, the crypto exchange can legally offer digital asset services in the Southeast Asian country. As detailed in the official announcement, the four licenses are for operating a cryptocurrency exchange, a digital token exchange, a cryptocurrency broker, and a digital token broker.

The exchange also highlighted that it has become the first cryptocurrency company to gain all four licenses.

“These four licenses make Upbit Thailand the top operator in the country in terms of number of licenses. They allow us to offer all combinations of digital asset pairs legally possible and enable us to work with global partners in innovative ways,” Upbit Thailand’s CEO Peeradej Tanruangporn said in an official statement.

The Thai affiliate of the South Korean exchange was formed as a joint venture between the Upbit APAC and other individual Thai partners. The local partners include Chatchaval Jiaravanon, Fortune Magazine owner; Somphote Ahunai, a major shareholder and group CEO of Energy Absolute PCL; and the CEO of the local exchange himself.

Thailand Remains Ahead in Regulating the Crypto Industry

Earlier this year, a Singaporean crypto exchange also received one Thai SEC license to offer services in the country. Other crypto exchanges operating in the country include Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange, Bitkub Online, Satang Corporation, and Coins TH Co. However, Bitcoin Exchange shut all its crypto trading operations in the country to focus on other business aspects.

“As new operators acquire licenses, I expect to see the competition drive up both the quantity and quality of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term products and services in Thailand,” Tanruangporn added.