The Magazine for Asian Investors
Bitkub, one of the fast-growing crypto exchanges that became a unicorn startup in less than four years, plans to offer a wide range of cryptocurrencies and services in other countries.
Bitkub intends to partner with existing providers in countries such as Malaysia, the Philippines, and Laos next year, using the same technology and products as Bitkub.
Driving Bitkub’s expansion is its success in Thailand, with annual revenue growth of over 1000% since 2018.
Previously the exchange was acquired by SCB holding a large stake of 51%. SCB is one of the largest banks in Thailand.
Future business expansion will be initiated through new investments or acquisitions, aiming to become the “Coinbase of Southeast Asia”.
Ranked as the number one cryptocurrency exchange in the U.S., Coinbase was listed on Nasdaq earlier this year. The platform is benefiting from the growing interest in the crypto market. At the moment, the global cryptocurrency market is worth around $2.75 trillion.
Although cryptocurrencies and NFT are not yet widely accepted in Southeast Asia, it is hoped that digital currencies will be supported in the future as they become more widely accepted.