How Thai Crypto Unicorn Bitkub Plans to Become the Coinbase of Asia

Thailand startup Bitkub Capital Group Holdings, founded in 2018, hit unicorn status last month notching up a valuation of over $1 billion. Now the crypto exchange intends to expand over Malaysia, the Philippines, and Laos, aiming to become “the Coinbase of Southeast Asia”, said the chief executive officer Jirayut Srupsrisopa. The Bangkok-based crypto exchange is aiming for huge growth during 2022 as it looks for the possibilities for partnership in Southeast Asia and setting up its own units, Bloomberg reported. Part of the strategy focuses on monopolizing in countries that lack bigger players, which opens the doors to dominate the field. Our strategy is to expand in countries that have no clear winners yet and are under-banked, with high social media usage and the potential to use cryptocurrency for remittances, … The expansion will be achieved either through new ventures or acquisitions. The goal is to become the Coinbase of Southeast Asia. The American company Coinbase Global Inc. is a crypto assets marketplace, and its technology provides a way to build crypto-based applications, among other services. It says on the Coinbase website that they roughly have “73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.” Related Reading | Coinbase Will Invest 10% Of Its Profits I...