Bithumb Takes its Expansion To Japan and Thailand
After Bithumb was hacked about a month ago, it lost cryptocurrencies equivalent to 30 million US Dollars, however, that didn’t stop its plan to expand in the Japanese and Thai markets.
Bithumb’s Plans for its Revival
Bithumb will start its services in Japan and Thailand as soon as it finishes its communications with the Japanese and Thai regulatory agencies and covers the required regulatory standards.
According to the exchange’s timetable, it will start operating in Thailand first in late October, and four months later, by February 2019, it will implement itself in Japanese markets.
Why Japan and Thailand
According to Bithumb, it chose to expand in Thailand and Japan although their business is already expanding, because the Thai government is already expanding in the fintech industry and encouraging smart city business and the use of cryptocurrencies. As for Japan, it is considered to have a pivotal role in the global financial market as it represents 50% of the market.
Other leading exchanges including Coinone, Binance and Huobi are taking the same steps towards expanding their businesses with the same aim as Bithumb; boosting their exchanges and creating a solid business in the fintech industry.
Further Expansion Plans
Bithumb is also planning to expand in the USA, Canada, UK, Europe, Australia, Russia, Philippines, China and India within the next few years.
Bithumb is keen on staying ahead in the market by creating a centralized platform for cryptocurrencies which will require them move up the top exchanges list by expanding their trades.