Bitkub, Thailand’s biggest cryptocurrency trading company, plans to expand its operations into other south-east Asian countries this year, said founder and chief executive Topp Jirayut Srupsrisopa.
Topp said that while Bitkub was not embarking on a “bloodshed war” with dominant trading platforms in the region such as Indodax, one of Indonesia’s biggest Bitcoin and crypto exchanges, it was targeting countries without strong incumbents.
“We are planning to go into a country without a clear winner yet because we don’t want to go into a war with big established players,” Topp said in an interview with the Financial Times.
“We believe this kind of business has a network effect and economies of scale attached to it, so we want to be the first to launch a product,” he said.
His comments come amid growing trading volumes for Bitcoin and other cryptocurrencies on the…
