Upbit launches in Thailand just days after regulators suspended Bitkub Crypto exchange Upbit is entering the Thai market at a fortuitous time when the kingdom’s most popular exchange, Bitkub, remains suspended by government regulators. According to reports in local media, a joint-venture crypto exchange between Upbit APAC and a group of Thai billionaires launched operations on Wednesday, Jan. 20. […] Upbit Thailand is owned by CP Group heir and owner of Fortune magazine Chatchaval Jiaravanon, and two other high profile business magnates, Somphote Ahunai and Preecha Praipattaraku. […] It has fingers in a multitude of other pies, from government infrastructure projects to telecoms to Covid-19 vaccines, and now crypto. Board member of Upbit Thailand, Praipattaraku, stated that the company applied for a digital asset exchange license from the Thai SEC several months ago: “It’s a coincidence we received permission from the Securities and Exchange Commission at this time,” Bitkub has been Thailand’s premier exchange since the closure of BX Thailand in September 2019.
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