December 5, 2022

Thai exchange Bitkub plans to list in Hong Kong

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Thai exchange Bitkub plans to list in Hong Kong

The CEO of Thailand's largest cryptocurrency exchange Bitkub, Jirayuth Srupsrisop, has revealed that the platform is going to list in Hong Kong in 2024.

According to Jirayut Srupsrisop (JirayutSrupsrisopa, the Hong Kong stock exchange, was chosen due to its sound legislation and high liquidity in the country's stock markets, which is much higher than in Singapore. The Bitkub founder believes that Southeast Asian companies will continue to favor Hong Kong, while Western firms are more likely to operate in New York:

“Hong Kong has more free and open rules. This country is more receptive to the introduction of new technologies,” Srupsrisopa said.

The CEO of Bitkub noted that according toCompared to Hong Kong, Thailand is more advanced in accepting digital assets as a means of payment. Srupprisopa added that going public is not a priority and the company will focus on improving efficiency instead.

Despite the recent FTX crash and its aftermath, Srupsrisopa still believes in the future of digital assets.

“That several centralized companiesmishandled customer funds or had very poor management does not mean that the cryptocurrency is bad. Digital assets are the best product, so customers will choose them,” he said.

Founded in 2018, Bitkub is licensedThe Securities and Exchange Commission (SEC) of Thailand claims to handle 90% of all crypto transactions in the country. In September, the Thai SEC filed a lawsuit with the courts accusing Bitkub of fictitious trading.