Bitkub is a Thailand-based cryptocurrency exchange, operated by Bitkub Online Co., Ltd. ( Thai : บริษัทบิทคับ ออนไลน์ จำกัด ) under its parent group Bitkub Capital Group Holdings ( Bitkub Capital Co., Ltd. ). It was founded in 2018 by Jirayut Srupsrisopa, and was among the first exchanges to receive a digital asset license from the country ‘s Securities and Exchange Commission, in 2019. It claims to be the largest cryptocurrency exchange in the country, with a share of 90 % of crypto transactions based on 2021 data from regulate exchanges. In November 2021, Siam Commercial Bank Group announced that it would acquire a 51-percent venture in the party for 17.85 billion baht ( US $ 537 million ), valuing the company at over $ 1 billion and making it one of Thailand ‘s first gear unicorn start-up companies .

history [edit ]

Jirayut Srupsrisopa, the independent co-founder of Bitkub and CEO of Bitkub Capital, was one of Thailand ‘s beginning technical school entrepreneurs to enter the cryptocurrency business. He had previously co-founded the Bitcoin wallet operator Coins.co.th ( a partner of Philippines-based Coins.ph, which was acquired by Go-Jek in 2019 [ 1 ] ), before leaving to raise fund for Bitkub, which was founded in February 2018 with a register capital of 50 million baht, backed chiefly by mobile operator DTAC. By the end of the year, it had become Thailand ‘s second-largest digital currency change, after BX.in.th. [ 2 ] [ 3 ] It was one of the beginning four exchanges to receive engage licences from the Securities and Exchange Commission ( SEC ), in January 2019, when the Ministry of Finance began regulating digital asset services. [ 4 ] The company reported rapid growth in tax income, from 3 million baht in 2018 to 30 million and 300 million over the next two years, [ 2 ] and 3.28 billion during the first three quarters of 2021. [ 5 ] It benefited from the abrupt blockage of BX.in.th in 2019, [ 6 ] and the rush into cryptocurrency trading as the price of Bitcoin surged from deep 2020, but the spike heel in activeness overwhelmed its systems, causing multiple crashes in January 2021, prompting the exchange to temp closure ; the SEC ordered correction of the issues. [ 7 ] The SEC besides ordered a suspension of raw user adjustment until the company could demonstrate the resilience of its systems, which was lifted in April. [ 8 ] [ 9 ] In May, the ship’s company introduced its own cryptocurrency, Bitkub Coin ( KUB ). [ 10 ] In November 2021, Siam Commercial Bank Group announced an acquisition deal in which it would ( pending regulative approval ) acquire a 51-percent bet on in Bitkub Online for 17.85 billion baht ( $ 535 million ), placing its full evaluation at over $ 1 billion and making it one of Thailand ‘s first base unicorn start-up companies. [ 5 ] [ 11 ] The move has been seen as part of a swerve of banks expanding far into fiscal engineering as their traditional businesses are challenged by technical school dislocation. The ship’s company has announced plans for international expansion in Southeast Asia. [ 12 ]

It was fined a entire of 3.9 million baht for eight infractions including system outages and disruptions, violating trade rules, insufficient customer corroborate, insufficient market surveillance, improper customer asset memory, and improper complaisance system. [ 13 ] [ 14 ]

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