Thailand Grants Licenses to Japan’s Bitherb to Operate Crypto Businesses

March 11, 2019

The Thai Securities and Exchange Commission (SEC) disclosed that it has granted four licenses to Japanese company Bitherb, a subsidiary of Remixpoint Incorporated, allowing the company to operate in Thailand.

The newly issued licenses will allow Bitherb to provide products and services relating to cryptocurrency to customers and traders in the country. Bitherb is licensed to function legally as a cryptocurrency exchange, a digital token exchange, a crypto asset broker, and a digital token broker. The announcement marks a major milestone in the country’s blockchain ecosystem, as Bitherb is the first-ever company to receive a digital token broker license from the Thai SEC.

Bitherb is a digital asset exchange with shareholders including Bitpoint Japan and Asia Herb Association Bangkok Ltd, which hold a 39.44 percent stake and 60.55 percent stake, respectively. President of Bitpoint Japan, Oda Genki, apart from overseeing the company’s business in Thailand, also runs operations in Hong Kong, South Korea, Taiwan, Malaysia and Panama.

Thailand has embraced blockchain technology as well as cryptocurrency. The Thai SEC has already granted licenses to three homegrown crypto exchanges — Bitcoin Exchange Co.Ltd, Bitkub Online Co. Ltd., and Satang Corporation — as well as to crypto asset broker Coins TH Co. Ltd.

Last month, the SEC launched a website with the aim of educating the general public about cryptocurrency, tokens, as well as risks involved in crypto investments under the name “Siang Soong,” which means “high-risk” in Thai.

SEC Secretary-General Rapee Sucharitakul said, “Digital assets are useful as funding tools, as well as a means to carry out transactions.” However, he added that these high-risk digital assets are meant for those who possess the necessary knowledge of the technology and these types of securities and are not for the general public looking to make investments.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain: Fine-tuning the Music Industry
Music might be in need of another tech disruption in the form of blockchain.

July 17, 2019

Graph Blockchain Secures Contract with South Korean Transport Ministry
The pilot project is for storing traffic data on a blockchain network as part of the Smart City nati...

July 13, 2019

Hong Kong, a Great Place for Blockchain Startups
It is quite evident that Hong Kong is quite rapidly developing to be a blockchain hub in the region ...

July 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us