Crypto exchange KuCoin is expanding into Southeast Asia with the launch of its platform in Thailand, targeting local investors. The rebranding follows KuCoin's acquisition of ERX Company Ltd, Thailand's first SEC-regulated digital token exchange, which received a crypto exchange license. Existing ERX users have transitioned to the new KuCoin Thailand platform, with its app available on Android and iOS. KuCoin faces stiff competition in a saturated market, with eight other licensed exchanges in Thailand, including the dominant Bitkub, which boasts a daily trading volume of around $70 million compared to KuCoin's global daily volume of $3.8 billion. While crypto trading is popular in Thailand, regulations have restricted the use of cryptocurrencies for payments. In light of increasing regulatory scrutiny, Thai finance authorities have cracked down on foreign peer-to-peer crypto platforms. Meanwhile, KuCoin is working on a settlement with the US Commodity Futures Trading Commission regarding previous legal issues.

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