The ecosystem of cryptocurrencies in Asia has not escaped the turbulence caused by the regulations that go against it. However, several exchange platforms have decided to open their doors in South Korea , Thailand , the Philippines and Vietnam .
Coinbit launches in South Korea
Koreans are keen on cryptocurrency , as evidenced by Upbit , ranked fourth in terms of daily trading volume. With the same name as the late Malaysian platform Coinbit.me, Coinbit (coinbit.co.kr) wants to find a place in South Korea with an attractive promotional launch for any trader: 0% fee . A hundred crypto-active will be listed, but only half will be available at startup.
Thailand welcomes Jibex
Jibex will list much less crypto-active compared to Coinbit. Only Bitcoin , Bitcoin Cash , Ethereum , Litecoin and Ripple will be part of the platform.
The Kingdom of Thailand had announced a 7% VAT on purchases of cryptocurrencies, and a 15% tax on capital gains. But this news has not stopped Jibex and its partner IT giant JG Computer Group Co. Ltd in their conquest of the Thai market. Like his Korean colleague, the 0.24% transaction fee will not be applied during the first 45 days of the launch of the platform , that is to say until June 26th.
Coinvil opens in Philippines
Coinvil will work with the Korean Glosfer to establish its trading platform. The latter is an expert in blockchain and he will also be the one who will be responsible for establishing the necessary solutions to make the exchange work. For now, no launch date has been given.
Kenniex in Vietnam
Kenniex will be the brand new trading platform that will open in Vietnam. It claims to be “the first cryptocurrency trading platform in Vietnam” when it has just been released. A fundamental asset must still be recognized: Kenniex will convert bitcoins in local currency (the dong) and vice versa.
Curiously enough, Vietnam has just issued a regulation prohibiting the exchange of cryptocurrencies on its soil . Its first exchange platform, bitcoin.vn, has suffered the consequences and lost access to its website . How does Kenniex plan to operate?