Cryptocurrency exchange Zipmex became one of the few businesses authorized to provide crypto exchange services in Thailand after the nation’s Ministry of Finance and the Securities and Exchange Connussuib granted then the first digital asset exchange license of this year.

Cryptocurrency exchange Zipmex announced that they had received a license to operate as a cryptocurrency exchange in Thailand. The exchange also operates in other countries, including Australia, Singapore, and Indonesia.

“Being a regulated entity will help provide trust to newcomers.”

Zipmex Thailand CEO and Co-founder, Akalarp Yimwali on the occasion of getting the license from authorities, said that that they believe that being a regulated entity will help provide trust to newcomers looking to enter the digital assets market. Zipmex will now facilitate fiat-to-crypto pairings in THB, USD, SGD, IDR and AUD.

Cryptocurrency exchange Zipmex is one of six crypto exchanges in Thailand.

With Zipmex entering the crypto market in Thailand, the total number of licensed exchanges in the country is now 6. Zipmex’s arrival at the Thai crypto market has brought more competition to the country’s developing crypto sector. Thai regulators recently announced their plans to update the list of companies that were granted a license for providing crypto trading services. The SEC had earlier revealed to be more flexible in order to provide space to grow the crypto sector more efficiently.