Binance, in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development, has announced the launch of their joint venture, Binance Thailand, a cryptocurrency exchange now open for trading. The CEO of Gulf Binance, Nirun Fuwattananukul, expressed his deep gratitude for the opportunity to introduce their local platform to the public in Thailand. He highlighted the company’s close cooperation with Thai regulators and their extensive planning over the past year.
Binance TH, the new platform, provides digital asset exchange services, offering trading pairs with the Thai baht. It has integrated with local banks in Thailand and has also formed a partnership with Binance Kazakhstan to offer brokerage services, all under the supervision of Thailand’s SEC.
Richard Teng, CEO of Binance, emphasized the company’s steadfast commitment to security, transparency, and service quality as they begin full operations of Binance TH in Thailand. He believes that blockchain technology and digital assets have the potential to promote financial inclusion. He views this launch as a strategic advancement, positioning Thailand as an emerging key player in the global digital finance arena.
The exchange received a license from Thailand’s Ministry of Finance in May of the previous year, allowing it to establish a regulated crypto exchange and broker. Binance initially announced the joint venture in January 2022. This development marks a significant step in expanding the global cryptocurrency market.