Upbit Thailand
Upbit Thailand is the Thai SEC-licensed cryptocurrency exchange operated by Korean Dunamu Inc. (parent of Korea's largest crypto exchange Upbit Korea). Launched Thai operations under Thai SEC license. Positions as international-brand, institutional-grade technology premium exchange.
Snapshot
Headline numbers a buyer checks first.
Parent
Dunamu Inc. (Korea)
Ongoing
Share
~8% Thai exchange volume
FY2024
Licence
SEC DA exchange
Ongoing
What this company actually does
Upbit Thailand operates SEC-licensed Thai crypto exchange under Korean Dunamu parent. International brand, institutional-grade technology leverage.[]
Competitive set: Bitkub (dominant), Satang, Orbix. Upbit differentiates on Korean-brand, tech, regional ASEAN ambition.[]
Platform segments
Spot trading
Crypto spot exchange
SEC-licensed digital asset exchange offering 50-plus cryptocurrency pairs including BTC/THB, ETH/THB, and major altcoins. Estimated ~8% Thai exchange trading-volume market share. User interface adapted from Upbit Korea's proven platform.
Institutional
Institutional-grade infrastructure
Dunamu's Korea-proven matching engine, custody, and risk-management systems deployed in Thailand. Institutional deposit, withdrawal, and API trading capabilities differentiate from some domestic Thai exchange peers.
Korean diaspora
KRW-THB corridor
Upbit Thailand positioned for Korean-Thai investment corridor: Korean expat community in Bangkok (~50,000-80,000), Korean tourist inbound, Korean crypto capital flows. Unique Korean-brand positioning vs Thai-origin peers.
Compliance
SEC Thailand regulatory stack
Holds SEC Digital Asset Exchange licence. Compliant with Thai SEC custody, proof-of-reserves, and AML/KYC requirements. SEC audit record clean; key differentiator for institutional clients vs less-regulated OTC channels.
Thai SEC-licensed crypto exchange comparison
FY2024 estimates
Orbix Trade
Thai volume share
~5%
Backer
Thai private
Listed coins
30+
SEC licence
DA Exchange
Key drivers 2025-2026
Regulation
Thai SEC spot-ETF and staking rules
Thailand SEC considering crypto ETF and staking service approvals in 2025. First-mover exchange licensing for new product categories (staking yield, ETF wrapping) will drive volume away from OTC toward licensed platforms.
Competition
Bitkub dominance and SCBX integration
Bitkub's ~60% market share is reinforced by SCBX parent ecosystem (SCB banking customers, CardX credit-card users). Upbit Thailand must differentiate on technical quality and Korean-brand international positioning, not price or domestic network.
Parent
Dunamu Korea strategic signal
Dunamu's performance on its Korea Stock Exchange listing process (attempted 2022, deferred) affects capital availability for Thailand expansion. A successful Dunamu IPO would validate Upbit Thailand's growth-investment case.
Watchpoints
Korean parent strategy
Dunamu Thailand roadmap, capital.
Thai user acquisition vs Bitkub
Market share competitive pressure.
Cross-border Korean-Thai
KRW-THB use cases, migration.
SEC compliance
Custody, audit, reserves.
Related Market profiles
Peers, parents, partners, agencies, and other Cryptocurrency & Digital Assets actors.
Competitor
Bitkub
Dominant Thai crypto exchange.
Open Market profile →
Competitor
Satang Corporation
#2 Thai crypto exchange.
Open Market profile →
Sector peer
Bitazza
SEC-licensed Thai crypto exchange, brokerage; niche-specialist alternative to Bitkub, Satang, Upbit.
Open Market profile →
Sector peer
Innovestx
SCB X-backed digital asset broker-dealer, equity brokerage; bank-group crypto arm.
Open Market profile →
Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Upbit Thailand Granted Four Provisional Licenses for Digital Asset Businesses by Thai SEC (Dunamu press release)
Publisher
Dunamu Inc.
Grade
Primary
As of
2025-12-31
SEC Thailand — Digital Asset Regulation, Licensee Register
Publisher
Securities and Exchange Commission (SEC Thailand)
Grade
Primary
As of
2026-03-31
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Upbit Thailand Granted Four Provisional Licenses for Digital Asset Businesses by Thai SEC (Dunamu press release) | Dunamu Inc. | Primary | 2025-12-31 |
| SEC Thailand — Digital Asset Regulation, Licensee Register | Securities and Exchange Commission (SEC Thailand) | Primary | 2026-03-31 |
Reports featuring this profile
Thailand Digital Assets & Crypto Market Intelligence
Korean Dunamu's SEC-licensed Thai crypto exchange; international brand.
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Sits alongside 6 other Atlas profilesThailand Crypto Regulatory & Tax Deep Dive
Upbit Thailand crypto exchange; regional expansion.
Open report →
Sits alongside 7 other Atlas profiles