Laos allows two licensed crypto exchange platforms to operate in the country, LDX & Bitqik.
LDX (www.ldx.la) and Bitqik (www.facebook.com/bitqik) are the only licensed and regulated institutions in the country that will offer full brokerage and exchange trading services for cryptocurrencies and other digital assets, with the aim to serve both Lao and regional customers. Both platforms are expected to provide full services in April this year, and will fully comply with the strict regulation of the BoL in terms of cyber security and clients’ investment protection to ensure a seamless and secure use of digital assets in Laos.

Digital assets are the new alternative form of investment of the 21st century, with many major financial institutions, investment funds and corporation already investing significantly in digital assets. The global market capitalization of all cryptocurrencies has now exceeded US$2 trillion, data from CoinMarketCap shows.

Many Lao residents have already started crypto mining and investing in digital assets. However, all the exchange and trading of those digital assets are currently using platforms outside of Laos with many restrictions, risk of fund transfer and not compliant with Lao regulations. By officially allowing the mining, exchange and trading of cryptocurrencies and other digital assets, the Lao Authorities will facilitate digital investment by Lao residents, while better educating the public in understanding more about the potential gain and risk. This will also generate a potential of up to USD200 million a year in revenue for the Lao Government.

In the announcement events, H. E. Mr. Sonexay Sitphaxay, Governor of the Bank of the Lao PDR, mentioned that BoL has put a lot of time and resources into the regulatory and legal tender process, working with the business communities and other Government Related Agencies with the goal of ensuring investors are protected, and feel more confident in using the licensed exchange platform in Laos as well as to put in place the measures to mitigate the risks to the economy that may arise from the Crypto Asset exchange. BoL will continue to work closely with the two licensed exchange platforms to monitor the exchange activities to protect the investors and to help develop the existing regulations. In addition, Mr. Soulisack Thamnouvong, Director General of Payment System Department, also mentioned that there are more than 30 applications for Crypto Asset Exchange platform license, but only AIF Group, together with Phongsubthavy Group and Simuong Group, are well prepared and qualified to operate the exchange platforms in the country. The three companies were also the first two that sent applications to the Bank of the Lao PDR.

All qualified digital and crypto assets investors can now use their bank accounts in BIC, APB, JDB, BCEL and other Lao Banks for their investment and trading, and no longer have to pay very high fees when using credit cards, or using bank accounts in other countries for other trading platform.