Analysis
7 Digital Asset Exchanges Hold an SEC Licence in Thailand, Including Bitkub and Gulf Binance
Every digital asset exchange on the SEC Thailand licensee list.
The short version: 7 companies are licensed as digital asset exchanges by the SEC in Thailand: Bitkub, Gulf Binance, Orbix Trade, TDX, Upbit Thailand, WAANX, Z.com EX (SEC list, read 22 Oct 2026). TDX is marked for digital tokens only; the others for both cryptocurrency and digital tokens.
Licensed Exchanges
| Firm | Company name | Licences (asset marks) | Website (SEC list) |
|---|---|---|---|
| Bitkub | Bitkub Online Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | bitkub.com |
| Gulf Binance | Gulf Binance Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | binance.th/th |
| Orbix Trade | Orbix Trade Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | orbixtrade.com |
| TDX | Thai Digital Assets Exchange Company Limited | exchange (digital token) | set.or.th/th/tdx/about |
| Upbit Thailand | Upbit Exchange (Thailand) Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | th.upbit.com |
| WAANX | Waan Exchange Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | waanx.com |
| Z.com EX | GMO-Z.com Cryptonomics (Thailand) Company Limited | exchange (cryptocurrency + digital token); broker (cryptocurrency + digital token) | ex.z.com |
In all, 32 companies hold 42 digital asset business licences from the SEC in Thailand; 9 hold more than one type of licence.
Global Brands Not on the List
No entry on the SEC Thailand list of licensed digital asset business operators carries the name Bitget, Bybit, Coinbase, Crypto.com, HTX (Huobi), Kraken, KuCoin, OKX (SEC list, read 22 Oct 2026). Binance appears through Gulf Binance Company Limited, licensed as an exchange and a broker.
This checks names, abbreviations and websites on the SEC list only. It is not a finding about whether these companies serve users in Thailand.
Sources
- SEC Thailand, licensed digital asset business operators market.sec.or.th