Bitkub Exchange Announces Thailand's First Proof of Reserve on CoinMarketCap Holding Over 80 Billion Baht

December 16, 2024 - Bitkub Online Co., Ltd. or “Bitkub Exchange”, Thailand's leading digital asset exchange platform, has achieved a milestone as the first Thai service provider to publish Proof of Reserve (PoR) data on CoinMarketCap, a leading global digital asset information platform. This initiative enables customers and investors to track the value of collateral and digital assets under Bitkub Exchange's custody. The exchange currently holds customer assets valued at over US$2,468,246,521.10, or approximately 80 billion baht, marking a significant step in elevating transparency standards in Thailand's digital asset industry.

Mr. Atthakrit Chimplapibul, CEO of Bitkub Online Co., Ltd., stated, "Publishing Proof of Reserve on CoinMarketCap marks a significant step in elevating transparency standards in Thailand's digital asset industry. We aim to ensure our customers' assets are securely managed and verifiable at all times. Customers and investors can monitor the value of assets under Bitkub Exchange's custody in real-time through the Proof of Reserve Tracker feature, which is regularly updated. This PoR disclosure not only demonstrates our commitment to establishing new standards in transparency and good governance but also enhances the credibility of Thailand's digital asset industry globally. If other digital asset operators and regulatory bodies jointly promote PoR as a key industry standard in Thailand, it will help build confidence in transaction transparency, benefiting both investors and the national economy in the long term."

The PoR data published on CoinMarketCap will only display information for assets with wallet address balances exceeding US$500,000 and must be assets recognized by CoinMarketCap. Coins or tokens listed on Bitkub Exchange but not registered with CoinMarketCap will not have their PoR data displayed.

Furthermore, as a legally licensed digital asset business operator, Bitkub Exchange is required to submit daily Net Capital reports to the Securities and Exchange Commission (SEC), reporting the value of customer assets under Bitkub Exchange's custody. The exchange must also maintain a collateral or reserve asset ratio of no less than 100% of total customer asset holdings.

Bitkub Exchange remains committed to continuously developing innovations and improving service standards to build a robust and credible ecosystem for both domestic and international investors.