User:Sunphanasorn/sandbox

Bitkub
Company type	Private
Industry	Bitcoin; Technology; Cryptocurrency; Blockchain
Founded	2 February 2018; 6 years ago
Founder	Jirayut Srupsrisopa; Sakolkorn Sakavee; Atthakrit Chimplapibul; Sugrit Phutaviriya; Atichanan Pulges;
Headquarters	Bangkok, Thailand
Number of employees	640+
Website	https://www.bitkub.com/

Bitkub is the biggest cryptocurrency exchange in Thailand in term of volume of and cryptocurrencies. It was found in February 2, 2018 and it is registered in Thailand. It was founded by Jirayut Srupsrisopa, a person who have passion in bitcoin and cryptocurrency and he decided to locate Bitkub in Thailand, and granted a permission from Ministry of Finance from Thailand

History[edit]

Bitkub was one of Thailand's first tech entrepreneurs to enter the cryptocurrency business. It was established on February 2, 2018, one of the co-founders is Jirayus Supsrisosopha, currently holding the position of Group CEO of the company. Bitkub Capital Group Holdings Co., Ltd. registered on February 5, 2018 with a registered capital of over 74 million baht.^[1] On January 4 2019, bitkub were one of the three company that granted a permission from Ministry of Finance to legally trading and regulating digital asset services in Thailand.^[2]

The beginning of the 2021, Bitkub was rapidly grow 1000% because of the price of bitcoin has been reached 28,000 US Dollar(USD) or 1 millon Bath. It made a lot of people interest in cryptocurrency and create a new account with Bitkub. This situation made sell/buying and registration service down for several day and it get a lot of complained from investors. The SEC Board of Directors resolved to allow Bitkub to modify the work system to protect investors within 5 days. it make bitkub need to hire more employees to support a high demand of user and high workload of system.^[3]

In November 2, 2021, Siam Commercial Bank announced to acquisition deal in Bitkub online which it would acquire a 51-percent in Bitkub Online around 1.78 billion bath($535 million), and the price of acquisition is over over $1 billion, so it will make Bitkub to be the first unicorn start-up company in Thailand. Later this deal was scrapped in August 2022 because Bitkub still has outstanding issues that need to be resolved in accordance with the recommendations and orders of the Securities and Exchange Commission. There is still uncertainty about the timing of such conclusions. ^[4]

Bitkub Chain[edit]

Bitkub Chain is a blockchain network developed by Bitkub Blockchain Technology Co, Ltd, a company that provides blockchain complete solutions and ICO (Initial Coin Offering) consulting for organizations or entrepreneurs who want to boost their business with blockchain technology. It is part of Bitkub Capital Group Holdings Company Limited, as well as Bitkub Online Company Limited, the leading digital asset exchange service provider in Thailand.

Bitkub Chain aims to be a blockchain network for everyone. This includes allowing developers to create applications to address real business use cases of Blockchain in industry sectors such as Decentralized Exchange (DEX), Decentralized Finance (DeFi). or Decentralized Application (DApp), etc. Bitkub Chain is initially intended for private use. And it can be used universally, depending on the characteristics of the Blockchain that allow the process. to manage fewer transactions and have a shorter period of time.^[5]

The 11 organizations that have joined the Proof of authority (PoA) on Bitkub's blockchain network are ^[6]

TPCS Public Company Limited.
Siamrajathanee Public Company Limited.
PROEN Corp Public Company Limited
Ananda Development Public Company Limited
Sis Distribution Thailand Public Company Limited
Saha Pathanapibul Public Company Limited
2C2P Public Company Limited
GetLinks Thailand Public Company Limited
HUAWEI TECHNOLOGIES (THAILAND) Public Company Limited
SIX Network PTE. Ltd.
SmartContract Blockchain Studio

Bitkub Chain currently has 1,590,000 transactions on the network, of which 1,300,000 wallet addresses are registered on the network. Of these, Bitkub NEXT is a 400,000 digital wallet where Bitkub NEXT can transact and store digital assets. Both cryptocurrencies and NFT.^[7]

Bitkub coin (KUB)[edit]

Bitkub Coin or Kub is a Native Coin that functions as a Utility Token on the Bitkub Chain, a Block Chain network created by Bitkub Blockchain Technology Co., Ltd., one of the digital asset companies. Under Bitkub Capital Group Holdings Co., Ltd.

KUB Coin will be distributed to customers who trade on Bitkub.com. This coin can be used and Fee Credit to reduce trading fees on the bitcoin board. On the other hand, developers who develop applications on Bitkub Chain can bring Bitkub. This coin can also be exchanged for Gas Fee or transaction fees on the blockchain as well.^[8]And the coin distribution will show's as the table below.

Token Distribution
	Percentage	KUB Supply	Release Schedule
Ecosystem Fund	13.64%	15,000,000	Unlock at Bitkub Chain V1.0 launch
Community Development Fund	13.64%	15,000,000	Quarterly over 2 years (first release in September 2021)
Company Reserve	9.09%	10,000,000	3 years vesting period then unlock yearly over 3 years (first release in September 2024)
Liquidity Provision	46%	50,605,103	Completed
Strategic Partners	8.54%	9,394,897	Unlock at Bitkub Chain V1.0 launch
Initial Airdrop	9.09%	10,000,000	Completed

Total Token is 110,000,000

Affiliated companies[edit]

Bitkub Labs Limited company[edit]

Bitkub labs is a online and offline learning hub company, this also knows as Bitkub academy. It is a online and offline learning platform to educate people and trader about blockchain, cryptocurrency, economic, Defi etc.. There are several way to access to Bitkub academy

Bitkub M Limited company[edit]

Bitkub M is a cooperation between Bitkub and The Mall Group to create a digital community to exchange knowledge and seminar to implement the technology of blockchain into retail store and lifestyle. It is a digital community which will serve as a center for exchanging knowledge in the digital economy, digital transformation, supporting Create knowledge for start-ups and new generation entrepreneurs. And make it to be meeting place for investors interested in investing in digital assets, both Thai and foreigners.^[9] by both company are have a ratio of 50:50 in investment and management.

Bitkub Blockchain Techology Limited company[edit]

Bitkub Blockchain Techology registered since February 28, 2018, registered capital of 778 million baht. It is an ICO consulting company for organizations or entrepreneurs who want to upgrade their business with blockchain technology. And the target is aiming to be Thailand's first blockchain network that provide Blockchain Full Solution Service. Now, Bitkub Blockchain Techology already have own blockchain network is Bitkub Chain.

Bitkub Ventures Limited company[edit]

Bitkub Ventures is a bussines provide funding support for business development. Mainly Focus on investing in startup enterprises or startups that operate in the blockchain field. Its mission is to drive the future of blockchain through supporting new entrepreneurs with expertise in cryptocurrency, investment, banking and business consulting.^[10]

Bitkub World Tech Limited company[edit]

Bitkub World Tech is cooperation between Bitkub and Tong Tang Group. It is a knowledge development center for digital technology education and skill adjustment for youth.^[11]