Owner of Thailand’s Largest Cryptocurrency Exchange Set to Go Public in 2025

[sirty143]

Owner of Thailand’s Largest Cryptocurrency Exchange Set to Go Public in 2025

Bitkub Capital Group Holdings, the owner of Thailand’s largest cryptocurrency exchange, reportedly plans to go public in 2025. Jirayut Srupsrisopa, the CEO of the holding company, revealed that Bitkub Capital Group is currently hiring... See more for yourself here.

Your opinion is greatly appreciated.

[TomPluz]

This is a big development in the cryptocurrency market of Thailand and which is telling the world that all is well here and the potential for real growth can be immense. With estimated overall revenue of around US$292.7m in 2024, doing business in this country can be so profitable. Now, I understand that right now regulatory concerns are mostly ironed out in Thailand so FinTech firms involved with crypto can do business legally and openly and this is now reflected in Bitkub Online Inc. going public.

[yhiaali3]

Apparently, this is why the Thai cryptocurrency exchange is going public:

Meanwhile, the Bloomberg report suggests that the entry of global crypto giant Binance and Kasikornbank Pcl, both of which threaten Bitkub’s dominant position in the Thai crypto industry, may have prompted the stock exchange listing decision. Before that, Bitkub sought to address the threat by selling a stake in Bitkub Online Inc, Thailand’s largest crypto exchange.

Bitkub exchange fears that it will not be able to compete with large platforms such as Binance to the Thai cryptocurrency market.
I expect this public offering to strengthen the stock exchange's position in the Thai market and give it the ability to remain competitive within the large stock exchanges, especially since the Thai market is in its infancy and promises a lot.

[bayu7adi]

Apparently, this is why the Thai cryptocurrency exchange is going public:

Meanwhile, the Bloomberg report suggests that the entry of global crypto giant Binance and Kasikornbank Pcl, both of which threaten Bitkub’s dominant position in the Thai crypto industry, may have prompted the stock exchange listing decision. Before that, Bitkub sought to address the threat by selling a stake in Bitkub Online Inc, Thailand’s largest crypto exchange.

Bitkub exchange fears that it will not be able to compete with large platforms such as Binance to the Thai cryptocurrency market.
I expect this public offering to strengthen the stock exchange's position in the Thai market and give it the ability to remain competitive within the large stock exchanges, especially since the Thai market is in its infancy and promises a lot.

If Bitkub's goal is to remain competitive with Binance or Kasikornbank, an IPO does not seem to be the only way to solve this problem. Binance itself is already big globally, so if there is a local version of Binance in Thailand, I'm sure it will be more interesting. Instead of having to fight against Binance, it would be better if Bitkub could join forces with Binance to remain the biggest in Thailand... if they want.

This has happened in Indonesia, where initially INDODAX was the most dominant cryptocurrency exchange in Indonesia, the entry of Tokocrypto x Binance made INDODAX's dominance weaken and now Tokocrypto's position is better than Indodax. Tokocrypto's joining with Binance was because Binance did not get a special permit to operate in Indonesia, therefore collaboration is what can make it exist in my country.

If Bitkub wants to imitate what Tokocrypto did, I don't think it's too late, rather than spending too much energy fighting Binance with its already very good reputation.

[Kemarit]

Apparently, this is why the Thai cryptocurrency exchange is going public:

Meanwhile, the Bloomberg report suggests that the entry of global crypto giant Binance and Kasikornbank Pcl, both of which threaten Bitkub’s dominant position in the Thai crypto industry, may have prompted the stock exchange listing decision. Before that, Bitkub sought to address the threat by selling a stake in Bitkub Online Inc, Thailand’s largest crypto exchange.

Bitkub exchange fears that it will not be able to compete with large platforms such as Binance to the Thai cryptocurrency market.
I expect this public offering to strengthen the stock exchange's position in the Thai market and give it the ability to remain competitive within the large stock exchanges, especially since the Thai market is in its infancy and promises a lot.

If Bitkub's goal is to remain competitive with Binance or Kasikornbank, an IPO does not seem to be the only way to solve this problem. Binance itself is already big globally, so if there is a local version of Binance in Thailand, I'm sure it will be more interesting. Instead of having to fight against Binance, it would be better if Bitkub could join forces with Binance to remain the biggest in Thailand... if they want.

This has happened in Indonesia, where initially INDODAX was the most dominant cryptocurrency exchange in Indonesia, the entry of Tokocrypto x Binance made INDODAX's dominance weaken and now Tokocrypto's position is better than Indodax. Tokocrypto's joining with Binance was because Binance did not get a special permit to operate in Indonesia, therefore collaboration is what can make it exist in my country.

If Bitkub wants to imitate what Tokocrypto did, I don't think it's too late, rather than spending too much energy fighting Binance with its already very good reputation.

I'm not from Indonesia, but my question is, if Bitkub want's to be competitive, then what global exchange they should collaborate to at least give Tokocrypto x Binance a run for their money?

Or maybe they think going into public will obviously give them more money to fight it out?

And the only winner here will be the Indonesian crypto enthusiast, and I will say one of the biggest in Asia now as far as adoption or usage.

[robelneo]

That's an excellent decision on their part they want to level the field because of the entrance of
Binance and Kasikornbank by going public will have enough funds to be competitive, based on the article they are hiring expert financial advisers to lead them into the competition.
The Thai market is very robust and every platform wants to give the Thai Crypto community the best service possible.

[Z-tight]

Goodluck to them in their ipo, the article states that this exchange is the largest in Thailand, but they now face competition from global exchanges, i don't know if we have people from Thailand in this forum, if we do, then they can tell us what people on the ground prefer, local or global exchanges. I don't know if a stock launch is what is best for their business, but we would see what happens when or if they launch in 2025.

[trendcoin]

An IPO of a centralized cryptocurrency exchange sounds very good to me. We all have some optimistic predictions about the future of cryptocurrencies and we know that centralized cryptocurrencies have an important place in this market, even if they go against the blockchain philosophy. If there was an IPO like this in my country, I would definitely participate in it. Congratulations to the Thai government for this initiative.

[Z-tight]

and we know that centralized cryptocurrencies have an important place in this market, even if they go against the blockchain philosophy.

Take note that it is the BTC network that is decentralized, most altcoins are centralized, so if you are talking about decentralization you have to be specific about BTC and any other coin that is decentralized. Centralized crypto operates under the control of certain authorities and it is worth mentioning that there is nothing like a 'blockchain philosophy' that they must follow.