ASCO Launches Brand New Crypto Exchange In Thailand
As demands for digital assets in Thailand continue to rise, ASCO has announced plans to introduce a new cryptocurrency exchange as part of the ongoing investor interest in digital asset trading.
ASCO is a group of several security firms collaborating on the new project to oversee the launch the new cryptocurrency exchange. As initial coin offerings are of great interest to the association, the new exchange promises to become a central hub for cryptocurrency interactions of any kind.
For the exchange to operate legally, the association will require a license by Thailand’s SEC. According to regulations, the license allows any security business to operate as a cryptocurrency exchange or broker, and permits license-holders to utilize digital wallets.
By working together on obtaining a license, the partnering security firms will cut-down greatly on costs and explore new technological aspects of the digital industry.
According to the chairwoman of the association, the ASCO has expressed confidence that more investors and traders will prefer operating through them due to their long-standing trust and reputation as well as their trustworthy trading platform.
The ASCO also believes that the license application will go through, which only leads them to believing that a full launch of the new cryptocurrency exchange is already underway under new branding. Since the association consists of several firms working together, this eliminates the need for multiple applications to obtain a license, and does not require launching more than one exchange.
Another added benefit of multiple firms collaborating together is the joint sharing of information, technology, expertise and workforce on one exchange, which in return will only provide a more secure and efficient trading platform as opposed to stand-alone exchanges operating on limited resources.