header banner
Default

Following the collapse of FTX, Thai cryptocurrency investors shifted their focus to local exchanges


ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon Mail ContactPath LayerPositive Arrow

Cryptocurrencies

Bitkub covers 75% of crypto trade in Thailand as competitors falter

Trading volume on Bitkub doubled to $139 billion on the day that global exchange Binance withdrew its offer to bailout its rival FTX.   © Reuters

| Thailand

BANGKOK -- Thai cryptocurrency investors scarred by the crash of 2022 have turned to locally regulated crypto exchanges, giving these trading hubs breathing space in the heavily distressed market.

Thai digital asset exchanges suffered a 79% drop in trading volume last year amid tighter macroeconomic conditions and scandals that eroded trust in the industry, according to crypto data compiler CoinGecko.

Sponsored Content

VIDEO:

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more

Sources


Article information

Author: Paige Saunders

Last Updated: 1699382523

Views: 850

Rating: 4.4 / 5 (63 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: Paige Saunders

Birthday: 2006-08-12

Address: USNS Flowers, FPO AA 60284

Phone: +4158948874323893

Job: Article Writer

Hobby: Crochet, Motorcycling, Lock Picking, Backpacking, Poker, Gardening, Horseback Riding

Introduction: My name is Paige Saunders, I am a welcoming, transparent, Determined, brilliant, courageous, audacious, dear person who loves writing and wants to share my knowledge and understanding with you.