Bitcoin Co. Ltd., (BX.in.th) a popular crypto exchange in Thailand, is shuttering its services.
In a company announcement, last updated on September 2, 2019, the exchange claimed that the closure will allow it to focus on other business opportunities. It instructed customers to withdraw their funds, as deposits and trading would be disabled from September 6 and 30 respectively.
The exchange has urged customers to withdraw all funds from the platform before November 1, 2019.
“We thank our loyal customers for using our BX.in.th services over the past 5 years […] Please note that all fund[s] are completely safe and all customers will receive 100% of their funds returned to them,” the exchange concluded.
The exchange didn’t give any reason for shutting down services. Recent 24-hour trading volume on BX.in.th was pegged at just $10 million, however, and would likely be impacted by the entrance of Huobi Global into the Thai crypto space (through Huobi Global).
Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.