Huobi Group Greenlit by Thai Regulators to Operate Crypto Exchangeby Fintech News Singapore July 26, 2019
Cryptocurrency exchange Huobi Group announced that they have secured the necessary regulatory approval to operate in Thailand. The group expects that their platform will go live latest by September 2019.
“Huobi is one of the largest exchanges in the world by trading volume and has six years of experience providing safe and secure operations in digital asset trading. Our mission in Thailand is to provide Thai users with secure and reliable digital asset trading services through verified technical capabilities. We look forward to working with our partners in government and local enterprises,”
Sakda Katekaew, CEO of Huobi Thailand.
In 2018, Thailand’s Securities and Exchange Commission (SEC) brought cryptocurrency under its regulatory control and mandated that businesses like crypto exchanges obtain a license to operate.
In addition to regulated exchanges, Thailand’s government is also actively exploring other blockchain applications. In August of last year, for example, the Bank of Thailand announced the development of Inthanon, its Central Bank Digital Currency (CBDC) based on R3’s Corda platform. Eight banks, including Standard Chartered Bank and HSBC, announced support for the project.