Bitkub founders want to build a blockchain ecosystem that provides a one-stop service for retail investors and enterprises in Thailand

With the objective to bridge the gap between blockchain, cryptocurrency services and non-tech users Biktub wants to be the most trusted and easy-to-use cryptocurrency exchange in Thailand. They have successfully closed an additional THB50 million (US$ 1.67 million) pre-series A round at THB750m (US$25m) valuation from an undisclosed investor. The funds were used for maintenance of high-end services as they are a customer-centric, and easing use, transaction speed and convenience are their top priorities.

Biktub’s cryptocurrency exchange platform provides multi-cryptocurrency wallets, user-friendly technical analysis tools, and alternative cash-out options for businesses willing to improve their payment processing systems. One of their main goals is to accelerate cryptocurrency adoption in Thailand and the pre-series A round was used to develop infrastructures and applications, compliance program (AML/KYC), automation of workflows as well as the acquisition of additional necessary licenses. A proportion of the funds was allocated to strengthen product knowledge and talent.

Also read: How Thailand is making strides to mold Bangkok into a global startup destination

Co-founded by Topp Jirayut Srupsrisop– Thailand’s leading crypto expert, ex-Goldman employee Atichanan Pulges, and owner of Thailand’s largest bitcoin club– Sakolkorn Sakavee; Biktub currently has about 25,000 users per day want to raise an A round to expand globally. Bitkub Capital Group Holdings Co., Ltd. consists of four main business units –Bitkub Online for the digital asset exchange platform, Bitkub Blockchain provides ICO advisory services, Bitkub Blockchain Academy works for blockchain education and Bitkub Capital acting as a venture capital firm taking care of investments.

The founders said they want to build a blockchain ecosystem that provides a one-stop service for retail investors as well as enterprises to learn, invest, and integrate blockchain technologies into their own infrastructure. They envision a tokenized world that will create an unprecedented level of financial access, privacy, and security. All these will be made viable with Bitkub acting as a thought leader in financial innovation.

Ever since their SEC license in January, they have joined hands with other blockchain and cryptocurrency entities in Asia like Asia Blockchain Review, Finansia, and OKex to reach out more crypto enthusiasts. They also have a trading platform for Thais and partnered with Swaple to pay for products with the Dragon Siam in Bangkok.

—

Image credit: Jakob Owens on Unsplash

The post Bitkub, Bitcoin and Bangkok: Thailand’s cryptocurrency exchange raises pre-series A round appeared first on e27.