Thailand’s leading cryptocurrency exchange Bitcoin Co. Ltd. (BX.in.th) is closing down all of its trading operations.

The exchange announced its call to discontinue trading on Sept. 2. The official web site of the exchange states:

“Bitcoin Co. Ltd. has determined to discontinue offering digital exchange services and wallet services at our BX.in.th web site so as to specialize in different business opportunities.”

Customers ought to withdraw their funds before Nov. 1, 2019.

The five-year-old exchange, that was regulated by the Thai Securities and Exchange Commission, won't seek to carry a Digital asset Exchange license for the year 2020 and has so asked its customers to withdraw their funds before Nov. 1, 2019.

The exchange has assured its users that support and guidance are available during the fund withdrawal method and thanked its customers for their loyalty over the past 5 years.

The website any declared that each one deposits are disabled once Sept. 6 and commercialism are halted as of Sept. 30.

Thailand’s push for innovation

Top Market Group previously announced that while the Thai-based crypto trade is shutting its entryways, the Customs Department in Thailand plans to utilize IBM's Tradelens blockchain answer to follow sending inside the nation's ports.

Patama Chantaruck, VP for Indochina development and overseeing executive of IBM Thailand, expressed at the time that IBM's TradeLens can offer the Thai Customs Department with a programmed and unchanging following apparatus, which can bring about a more secure, clear, proficient and simple advancement.

To know more on Cryptocurrency and Blockchain events, follow us on Facebook, YouTube,  Twitter, LinkedIn, Reddit, Telegram, BitcoinTalk, and we are also on Medium now