$ADA: EMURGO and Bitkub Exchange Join Forces to Boost Cardano’s Presence in Thailand
On Thursday (March 23), EMURGO, the official commercial arm and founding member of the Cardano blockchain, announced a strategic partnership with Thailand’s largest cryptocurrency exchange, Bitkub Exchange, and the leading digital asset education hub, Bitkub Academy.
According to EMURGO’s blog post, this collaboration aims to expand the Cardano ecosystem’s awareness and adoption in Thailand through community-building and educational initiatives.
Bitkub Exchange, established in February 2018, is apparently the first digital asset exchange to receive a legal license from The Securities and Exchange Commission, Thailand (SEC Thailand). As a result, it has become one of Thailand’s first unicorn startups. Bitkub Academy, founded alongside Bitkub Exchange, aims to create an open education system for users by providing equal access to knowledge in the cryptocurrency space through educational content, courses, meet-ups, and other initiatives.
The partnership will foster broader awareness of the Cardano blockchain ecosystem and Web3 in Thailand. It will co-host Web3 business competitions for talented Thai youth and university students, providing them with Web3 career opportunities. Additionally, the collaboration will explore potential use cases for Cardano ecosystem projects, including stablecoins.
EMURGO CEO Ken Kodama expressed his excitement about the partnership, stating that it would “open further opportunities, drive education and development, and further cement the position of the Cardano ecosystem in Thailand with Bitkub as the local partner.”
Bitkub Labs CEO Sugrit Phutaviriya also shared his enthusiasm for the collaboration, emphasizing their joint goal of developing sustainable partnerships with like-minded organizations.
Thailand is ranked eighth globally in crypto user adoption, with over $100 billion in transactions recorded from July 2021 to June 2022, according to The 2022 Global Cryptocurrency Adoption Index report by blockchain analysis firm Chainalysis.
This partnership aims to capitalize on the growing interest and adoption of cryptocurrencies in the region by promoting the environmentally friendly Cardano blockchain, which utilizes a proof-of-stake consensus protocol.