South Korea Exchange Bithump Expanding to Japan and Thailand.
July 17, 2018 5:43 am,
South Korea has the second largest Crypto exchange Bithump which is expanding into Japan and Thailand. Presently Bithump is working on obtaining regulatory approval from the financial regulators of both Thailand and Japan.
Japan and Thailand are two jurisdictions that are Cryptocurrency friendly.
Expanding into Thailand
Thailand is the active e-Commerce and fintech industry and the government is showing great interest in digital currency as it promotes smart city business. Bithump is currently working on obtaining regulatory approval from the Thai Securities and Exchange Commission (SEC). Thailand has recently finalized its regulatory framework for cryptocurrencies and ICO. The Exchange has already established a Thai subsidiary, Bithump (Thailand) company limited with registered capital of 3 million baht.
Expanding into Japan
Japan was an early and enthusiastic adopter of Bitcoin. Japan accounts for 50% of the global financial market and Bithump considers that Japan plays a central role in the world’s money market. Japan legalized Cryptocurrency as a means of payment in April of last year. All companies seeking to operate an exchange in the country must obtain approval from the country’s top financial regulator, the Financial Services Agency (FSA). Bithump is seeking approval from FSA with a plan to open an exchange in Japan in February next year.
Global Expansion Plan
The Bithump is planning for expanding all over the world. The exchange is planning to work closely with overseas partners to launch platforms that are faster and more efficient for traders worldwide. Bithump has also established a subsidiary in Singapore and Britain. Moreover, the exchange is also considering establishing overseas subsidiaries in various countries such as the U.S. and Europe.