How to Trade Ethena (ENA) in Thailand

From Thailand, exposure to Ethena runs through a USDC-settled perpetual.

Is Ethena trading legal in Thailand?

Spot crypto is legal in Thailand but only as a licensed activity. The Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) requires a digital asset business operator to hold a licence granted by the Minister of Finance on the SEC's recommendation, and operating without one is a criminal offence carrying two to five years' imprisonment plus fines. The licence categories the SEC has consulted on are spot-side businesses — exchange, broker and dealer, later advisory services and fund management — and as recently as February 2026 the SEC was still consulting on a framework to permit spot crypto ETFs, which it described as an initial phase using relatively simple structures.

What the contract is

A perpetual on ENA tracks price and does not confer ownership of the underlying — the same contract mechanics apply in every jurisdiction; what differs by country is legal status and funding rails.

Sign up on Canborsa with email, X or a wallet

No document upload to open the account. Canborsa is non-custodial: your collateral stays under your own keys until a position opens.

Email X Wallet

Fund the account with USDC

Deposit USDC over Canton, Robinhood Chain, Ethereum, Base, BNB Chain or Arbitrum. Canborsa takes no fiat, so buying the USDC happens wherever you normally buy stablecoins.

→Robinhood Chain

Open ENA-PERP

Pick ENA in the markets list. The ticket shows the live price, the current funding rate and max leverage 10x .

ENA-PERPPerpetual · USDC marginLONG

Choose Buy / Long, then set size and leverage

Buying $1,000 of ENA at 5x uses $200 of collateral. Higher leverage moves the liquidation price closer to your entry: your exposure is the position size, whatever margin you posted. Set a stop-loss below your entry before you walk away.

Personal income tax exemption on the gain from transferring crypto through an SEC-licensed Thai exchange, broker or dealer, for assessable income received 1 January 2025 to 31 December 2029 (Ministerial Regulation No. 399, B.E. 2568, issued 27 August 2025, adding item (109) to Ministerial Regulation No. 126).

Trading ENA from Thailand: legal.

From Thailand, you can fund an Ethena position using Bank Transfer (Thai QR), Bank Transfer (PromptPay) and P2P (Peer-to-Peer).

19 platforms serve Thailand for Ethena trading, among them Aevo, ApeX and Aster.

On Canborsa, traders in Thailand can use up to 10x leverage on Ethena.

Canborsa charges 0.07% per side (0.14% round trip) on Ethena.