Bitcoin Co. Ltd. Founded
In June, 2013 Bitcoin Co. Ltd. was founded as a limited Thai company in order to provide people in Thailand with access buy and sell bitcoins.
Access to Bitcoin has been previously limited to only dealing with individuals and Bitcoin Co. Ltd. was the first company to enter the Thai market.
Seeking Currency Exchange License
We contacted the Bank of Thailand to apply for a currency exchange license for our Bitcoin trading and obtain guidance from the Central Bank
BoT advised us at that time to discontinue our Bitcoin buying and selling services until they could consider any applicable regulations.
We immediately complied with the Bank of Thailand's advisement and closed our Bitcoin.co.th buy and sell services until further notice.
Entered the Mining Industry
While awaiting the BoT to consider the regulation of Bitcoin exchange services, we wanted to stay involved in the Bitcoin.
Bitcoin Co. Ltd. started to import and sell early model Bitcoin ASIC mining device to the Thai market.
Bank of Thailand Approval
After reviewing our currency exchange applications the BoT responded to us with guidance that Bitcoin was not considered a currency in Thailand and was outside the scope of currency exchange regulation; and we were again able to operate a Bitcoin exchange business in Thailand.
Open for Business
We re-opened our Bitcoin.co.th exchange services and phased out our mining equipment sales.
Development & Beta Testing Exchange Platform
We began the development of a totally custom exchange platform, written in-house, initial titled exchange.bitcoin.co.th and then re-branded as "BX.in.th"
After months of extensive alpha and beta testing we launched our exchange platform live.
Our exchange platform saw Bitcoin Co. Ltd. start to trade in additional crypto-currencies such as Litecoin, Ethereum and Ripple.
The BX.in.th exchange platform would become our flagship product and gained increasing populatity becoming one of the leading exchange platforms in the world.
CoinPay Merchant Service
We launched our CoinPay merchant service, allowing merchants to accept Bitcoin sales.
BX.in.th start to list ICO tokens in addition to traditional crypto-currencies; adding Thai Baht markets for tokens such as Augur, OmiseGo and Gnosis.
With the massive increases in BX.in.th popularity we decided to phase out our Bitcoin.co.th buy and sell service, and our Coinpay services in order to better focus on our exchange platform.