Bithumb to open branches in Japan and Thailand

Posted 16 July, 2018

South Korea's Bithumb, one of the leading cryptocurrency exchanges, targets Thailand and Japan. 

For now, the company takes all required measures to get permission for business in these countries, following its plan for the global expansion.

Bithumb is in talks with the Thai Securities and Exchange Commission. It has reportedly opened the Thai branch Bithumb (Thailand) Company Limited with charter capital amounting to $90,000. According to the news reports, Bithumb has chosen Thailand seeing proactive stance of the government towards the e-commerce segment as well as its "great interest in digital currency".

For reference, Thailand has lately approved the regulation for cryptos and ICO. Bithumb is working on the Thai website. The launch of the services is slated for end-October.

Meanwhile, in Japan, the regulation requires that all trading platforms must pass certification by Financial Services Agency. Still, Bithumb plans to receive approval in this country as well, while the service can become available next February. 

Moreover, the company representative claimed that they have big plans for Japan, intending to offer the services with the largest number of coins in the country.

According to the exchange statement:

"Bithumb is preparing exchange platforms for countries under the global expansion plan and we are looking for great and potential partners (corporation, entity or group) worldwide…The exchange platforms under final development stages are USD / JYP / EUR / CNY / INR / GBP / AUD / CAD / PHP / RUB and [there] will be more soon when there are any service demands."

Notably, Bithumb is expanding worldwide. Specifically, Singapore and UK branches are already in operation. 

As it was reported earlier, the platform lost $30 million after the hack attack in June. 

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