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Bitkub has rapidly ascended to becoming Thailand’s largest digital asset center known for its user-friendly platform and rigorous security and compliance measures, processes approximately $41,498,760 in daily trading volumes as of 13 June 2024 (peaking at 1.45 billion vol in 2021) (Ref: Exchange Trade Volume in 24 hrs from coingecko.com). Under the leadership of Atthakrit Chimplapibul, Co-founder and CEO of Bitkub, Bitkub continues to set the standard for digital asset institutions in Thailand and beyond.
In this exclusive interview, Atthakrit shares the compelling journey of Bitkub, the strategic rationale behind choosing Rakkar as their official digital asset custodian, and his forward-looking perspective on the digital asset industry.
1. Could you share more about Bitkub's journey to becoming Thailand’s largest digital asset exchange and the key milestones achieved along the way?
Atthakrit: Bitkub's journey began with a clear vision and that is to make digital assets accessible and secure for everyone. Since our inception in 2018, we have focused on building a user-friendly platform underpinned by rigorous security and compliance measures. Some of our key milestones include obtaining a digital asset exchange license from the Thai SEC, achieving a user base of nearly 5 million registered users, and seeing our app become the #1 financial app in Thailand on both iOS and Android platforms. These accomplishments have been driven by our relentless commitment to innovation, customer service, and operational excellence.
2. What factors led Bitkub to select Rakkar as its official digital asset custodian, and how do you foresee this partnership enhancing the security and operational excellence of your platform?
Atthakrit: At Bitkub, we are continuously working to improve our service and security. While it may not be highlighted frequently, we prioritize security above all else. One of our core principles is never putting all our eggs in one basket. This approach led us to choose Rakkar as one of our digital asset custodians. Rakkar, backed by SCB10X of Siam Commercial Bank, one of the largest banks in Thailand and the region, brings an exceptional reputation and technology to the table. We believe this partnership will significantly enhance the security and operational excellence of our platform, ensuring our users' assets are protected to the highest standard.
3. As Bitkub continues to grow, what are the primary challenges and opportunities you anticipate in the digital asset space, particularly in relation to regulatory compliance and security measures for consumer protection?
Atthakrit: As Bitkub grows, one of the primary challenges we anticipate is navigating the evolving regulatory landscape. Ensuring compliance with both local and international regulations is crucial for maintaining trust and safeguarding our users. More importantly, as the digital asset space becomes more mainstream, the need for robust security measures to protect consumer assets will only increase. However, these challenges also present opportunities. By staying ahead of regulatory changes and continuously enhancing our security protocols, we can position Bitkub as a leader in consumer protection and compliance, fostering greater trust and adoption in the digital asset industry.
4. Looking ahead, what innovations and developments can the global industry expect from Bitkub in the years to come?
Atthakrit: Bitkub is poised to introduce several innovations and developments that will shape the future of the digital asset industry. Firstly, we plan to launch more products and services designed to make digital assets more accessible and beneficial for a wider audience. We are also committed to enhancing our security measures, including the implementation of advanced technologies such as passkeys, to ensure the highest level of protection for our users. Furthermore, we are expanding our offerings to include institutional serving services, catering to the needs of banking and securities companies. Additionally, we have plans for international expansion within our region, aiming to bring Bitkub's trusted and innovative platform to new markets. These initiatives will not only solidify our position as a leader in the industry but also set new standards for innovation and excellence in the global digital asset space.
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