Upbit, a South Korean digital asset exchange, said Thursday that its Thailand unit was up and running after receiving the necessary licenses from regulators.

The Thailand Securities and Exchange Commission recently granted approval for Upbit Thailand in four business areas -- digital asset exchange and brokerage and digital token exchange and brokerage -- with Upbit Thailand being fully operational as of Wednesday, the company said.

“It is a very exciting time for the digital asset industry. We will provide the best trading experience in Thailand with our globally renowned expertise,” said Peeradej Tanruangporn, Upbit Thailand’s CEO. “Also, we will collaborate with regulated digital asset businesses in Thailand as well as global players to introduce innovative digital asset services in a responsible and compliant manner.”

Upbit Thailand plans to offer a secure and stable trading experience drawing on Upbit’s years of expertise operating one of the largest digital asset exchanges in the world, the company said.

Founded in 2017 by Dunamu, a blockchain and fintech company, Upbit now operates regulated digital asset exchanges in Korea, Singapore, Indonesia and Thailand.

By Park Ga-young (gypark@heraldcorp.com)