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