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Bithumb expansion; Branch opens in Japan and Thailand

THAILAND – Bithumb is one of the largest cryptocurrency exchange in South Korea. And as it is now, the cryptocurrency exchange is expanding into Thailand and Japan.

Bithumb is currently passing through the right legal procedures by obtaining regulatory approval from the Thai Securities and Exchange Commission (SEC), local media reported Friday.

The exchange is the second largest in South Korea at the time of this writing, with a 24-hour trading volume of about $358 million, behind only the Kakao-backed Upbit with a $582 million trading volume during the same time period.

JAPAN – The cryptocurrency exchange is also expanding to Japan. Just last year April Japan legalized cryptocurrency as a means of payment.

Bithumb is also trying to obtain approval from the country’s top financial regulator, the Financial Services Agency (FSA).

Nonetheless, Bithumb is seeking approval from the FSA with a plan to open an exchange in Japan in February next year, the news outlet conveyed. The exchange also revealed that “it plans to set up an exchange that supports the largest number of coins in Japan,” the publication noted.

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Just so you don’t forget Bithumb’s simple and general plan is to expand globally. The exchange says it will work closely with overseas partners to launch platforms that are faster and more efficient for traders worldwide.

Do you think the cryptocurrency exchange expansion into the Asian countries are really necessary? Share your thoughts below.

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Written by Russell


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