An up and coming Thai crypto startup – Bitkub Capital Group Holdings, just hit the Unicorn status in November, amassing a valuation of more then $1 billion. This is a big achievement for the company, which began its journey in 2018 in Thailand alone. Following this big step, the company seeks to expand and establish its presence in the Philippines, Malaysia, and Laos as of now. The executives have expressed that they wish to make Bitkub the next Coinbase from Southeast Asia.
The exchange, which is based out of Bangkok, has major plans for the upcoming year 2022. Looking to expand primarily in Southeast Asia, the company has a great strategy in place. They intend to set up their own units in Southeast Asian countries that do not have many big players yet, thereby being able to monopolize their offerings. They will be able to dominate the market quickly and gain instant recognition and growth. The company also seeks to expand either through new ventures or other acquisitions.
Just one month ago, Bitkub witnessed a 24-hour turnover, which happened when Siam Commercial Bank purchased a 51% stake of Bitkub for over 17.85 billion bahts, which has put Bitkub’s valuation at a whopping 35 billion baht.
On the heels of these developments, Bitkub has now secured the 79th position in the top 300 international exchanges around the globe. Bitkub’s native digital cryptocoin (KUB) has now tripled in its value after the big buy.
Thai crypto aficionados will have to wait and see what Bitkub is able to accomplish in 2022.