Bithumb to Expand to Thailand and Japan

Largest South Korean cryptocurrency exchange goes to new markets
16 July 2018   465

One of the largest crypto exchanges in South Korea, Bithumb is expanding to Japan and Thailand. Exchange is working to obtain regulatory approval of financial authorities in both jurisdictions. The new divisions are part of a larger scale plan for the global expansion of Bithumb, Bitcoin.com reports.

Bithumb is in talks with the Securities and Exchange Commission of Thailand. The company has already opened a division of Bithumb (Thailand) Company Limited with a registered capital of $ 90,000. 

Thailand is active in e-commerce and the fintech industry, and the government is showing great interest in digital currency as it promotes smart city business.
 

Bithumb 

Thailand has recently completed the development of a regulatory framework for the regulation of the cryptocurrency and ICO. Bithumb is developing a website for a new unit, which will launch trading in late October.

As for Japan, all companies wishing to provide cryptocurrency exchange services in this country are required to receive approval of the local financial regulator of the Financial Services Agency (FSA). In light of the Coincheck hack the FSA tightened supervision over the trading floors and complicated the process of their registration.

Nevertheless, Bithumb expects to receive the approval of the regulator and start trading in the Japanese market in February next year. The company also stated that it "plans to create a exchange with the support of the largest number of coins in Japan".

Earlier, Bithumb said that she was looking for partners for expansion at the world level. According to the exchange, it cooperates with foreign companies in an attempt to create faster and more effective platforms for traders from around the world.

Bithumb is preparing exchange platforms for countries under the global expansion plan and we are looking for great and potential partners (corporation, entity or group) worldwide…The exchange platforms under final development stages are USD / JYP / EUR / CNY / INR / GBP / AUD / CAD / PHP / RUB and [there] will be more soon when there are any service demands.
 

Bithumb 

According to Money Today, Bithumb also opened divisions in Singapore and the UK.

Bithumb to Launch Payment Service is Qoo10

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia
08 November 2018   128

Bithumb reported that it had entered into an agreement with Qoo10 to create a service for paying for goods and services using cryptocurrencies. This is reported by Cointelegraph.

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia. The press release also says that within the framework of cooperation, the Bithumb payment service will be expanded for use around the world.

The partnership with Qoo10 has made it possible for us to utilize the Bithumb cache beyond our home country and abroad for real life. We will continue to improve our services to improve customer convenience.
 

Bithumb

The companies signed a corresponding agreement back in August, after which they started working on settlement services as part of the Qoo10 service and the Bithumb Cache system. The Bithumb settlement service was introduced in the spring and allows exchange customers to exchange crypto assets and use them for payments.

Thanks to a new partnership, consumers will be able to buy Qoo10 products using the Bithumb Cache service.