Chinese exchange Zb.com has set up a branch in Thailand with a plan to turn it into the regional crypto trading hub in Southeast Asia. The move came as the Thai government finalizes the country’s regulatory framework for cryptocurrencies and initial coin offerings.
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Creating Regional Hub
Dawei Li. (Photo credit/Matichon)
Chinese cryptocurrency exchange and wallet provider Zb.com recently announced that it has set up a full-fledged branch in Thailand, called Zbthailand (Zbth), with the aim for it to become the regional crypto trading hub in Southeast Asia, according to local media.
Zb.com already has a presence in China, the US, Canada, Switzerland, Australia, and South Korea, Matichon publication detailed, adding that Zb.com currently has over 3 million customers. According to Coinmarketcap, Zb.com lists 59 coins with a 24-hour trading volume of $160 million.
Dawei Li, the exchange’s co-founder, told the publication:
The company plans to expand its digital currency trading platform in Thailand…in addition to providing knowledge and understanding of blockchain technology and investment in digital assets to Thai investors, including recruiting strategic partners to attract more foreign investors to invest in Thailand.
The new exchange offers the trading of 16 cryptocurrencies against the Thai baht, BTC, and ETH. The supported cryptocurrencies at the time of this writing are BTC, LTC, BCH, ETH, ETC, EOS, QTUM, NEO, SNT, AE, ICX, ZRX, EDO, FUN, MANA, and TZB. “All transactions fees are 0.1%,” according to the new exchange’s website.
In November last year, Zb.com partnered with licensed Japanese exchange Quoine and Chinese bitcoin mining solution provider BW.com “to support and facilitate liquidity across isolated cryptocurrency & fiat markets,” the companies jointly announced.
Thailand’s Crypto Regulatory Framework
The decree to regulate
